Coins.ph, Vietnam’s FinFan partner for cross-border payments

Coins.ph and FinFan have signed an agreement to improve cross-border remittance and payment services between the Philippines and Vietnam.

Coins.ph is a licensed cryptocurrency and digital wallet platform based in the Philippines, while FinFan is a Vietnamese financial technology firm providing remittance and payment solutions.

The memorandum of understanding was signed on the sidelines of the Singapore Fintech Festival.

Under the partnership, Coins.ph will convert funds into US dollars, which will then be sent to FinFan for disbursement in US dollars to recipients in Vietnam.

Both companies are licensed by their respective central banks to offer remittance services.

The collaboration aims to make cross-border payments between the two countries faster and more efficient.

🔗 Source: Coins.ph

🧠 Food for thought

Implications, context, and why it matters.

Vietnam’s foreign exchange (FX) rules need clarity on USD payouts

Public sources cover outbound foreign currency transfers, but they do not answer whether remittance recipients in Vietnam can get paid in USD; FinFan’s USD payout claim needs clarification 1.
Rules let Vietnamese citizens send foreign currency abroad for study or medical needs, yet they do not resolve whether local cash pick-up in USD is legal 1.
The State Bank of Vietnam is the central bank plus financial regulator and will require reports for international online money transfers of USD 1,000 or more starting November 1, 2025, which could raise compliance work for any Coins.ph-FinFan setup 2.
Non-residents and resident foreigners can take or transfer foreign currency abroad under set conditions, yet domestic USD payouts remain unaddressed 1.

Fintechs can target the Philippines-Vietnam corridor with sharp pricing

The global average remittance fee sits at 6.49% as of August 2025, so firms can win share if they price well below that 3.
Asia’s tech-led remittance flows are projected to reach USD 250 billion by 2028, which signals room for payment processors and infrastructure players on the Philippines-Vietnam lane.
Teams can build Vietnamese dong payout rails using local banks or e-wallets or cash pickup to handle currency mismatches, which may be practical versus USD disbursement under Vietnam’s foreign exchange management framework 1.
Vendors can package tools for Vietnam’s new reporting rules on transfers above USD 1,000, including screening against sanctions and blacklists by the January 1, 2026 deadline 4.