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<ul> 
 <li>DA5 and Gurufin launch PHMU, a 1:1 pegged stablecoin to the Philippine Peso.</li> 
 <li>PHMU aims to streamline money transfers with low and stable transaction costs.</li> 
 <li>DA5’s initiative reflects the growing interest in stablecoin adoption in the Philippines.</li> 
</ul> 
<p>DA5 and Gurufin partner to launch PHMU, a 1:1 pegged stablecoin to the Philippine Peso. Specifically, PHMU offers stability and low transaction costs within <a href="https://da5.com.ph/" target="_blank" rel="noopener noreferrer nofollow">DA5</a> and Gurufin’s ecosystems. DA5, a licensed crypto exchange, aims to expedite money transfers in the Philippines.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4e2.png" alt="📢" class="wp-smiley" style="height: 1em; max-height: 1em;"> PH Licensed Crypto Exchange DA5 and Gurufin launch PHP Stablecoin! <a href="https://t.co/RaEvIsXxjs" rel="noopener noreferrer nofollow">https://t.co/RaEvIsXxjs</a><br><br>Learn more about this new PHP stablecoin as well as other PHP stables currently available or announced so far.<a href="https://twitter.com/hashtag/CryptoPH?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CryptoPH</a> <a href="https://twitter.com/hashtag/CryptoNewsPH?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CryptoNewsPH</a> <a href="https://twitter.com/hashtag/Blockchain?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Blockchain</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://t.co/7chdjY748K" rel="noopener noreferrer nofollow">pic.twitter.com/7chdjY748K</a></p>— BitPinas (@bitpinas) <a href="https://twitter.com/bitpinas/status/1698551904081735893?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 4, 2023</a> 
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<p>In detail, licensed crypto exchange Direct Agent 5, Inc. (DA5) has teamed up with Gurufin to introduce the PHMU stablecoin project, pegged 1:1 to the Philippine Peso. This initiative, aimed at streamlining money transfers in the Philippines, emerged from the collaboration between DA5 and Gurufin, a Layer-1 Hybrid Mainnet integrating real-economy payment services with blockchain technology, formalized on August 9, 2023.</p> 
<p>PHMU is part of the growing trend of stablecoins, cryptocurrencies pegged to reference assets, designed to maintain a consistent value. In this case, PHMU is backed by the Philippine Peso at a 1:1 ratio.</p> 
<p>What sets <a href="https://cryptonewsland.com/philippines-smart-communications-leaps-into-web3-era-with-blockchainspace/" target="_blank" rel="noopener noreferrer nofollow">PHMU apart is its commitment</a> to low and stable transaction costs, avoiding the volatile gas fees seen on other major chains, thanks to its operation on its own Layer 1 chain.</p> 
<p>DA5, a licensed Philippine Western Union Agent, holds licenses as a virtual asset service provider (VASP), electronic money issuer (EMI), and provider of electronic payment and financial services (EPFS) from the Bangko Sentral ng Pilipinas (BSP).</p> 
<p>The stablecoin will initially be accessible via the <a href="https://surgepay.app/" target="_blank" rel="noopener noreferrer nofollow">SurgePay Community Wallet</a> within the combined ecosystems of DA5 and Gurufin, followed by availability in DA5’s extensive network of over 1,800 branches.</p> 
<p>Stablecoins pegged to the Philippine Peso are not yet widely adopted in the country. However, this initiative by DA5, along with previous efforts by institutions like UnionBank of the Philippines, <a href="https://cryptonewsland.com/the-philippines-discusses-blockchain-based-elections/" target="_blank" rel="noopener noreferrer nofollow">demonstrates the growing interest</a> in stablecoin adoption for efficient payment transactions in the Philippines.</p> 
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4> 
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 <li><a href="https://cryptonewsland.com/how-the-colombian-peso-pegged-ncop-is-pioneering-financial-innovations-on-the-polygon-network/" rel="noopener noreferrer nofollow">How the Colombian Peso-Pegged nCOP is Pioneering Financial Innovations on the Polygon Network</a></li> 
 <li><a href="https://cryptonewsland.com/argentines-start-buying-stablecoins-admit-talks-of-us-dollar-adoption/" rel="noopener noreferrer nofollow">Argentines Start Buying Stablecoins Amid Talks of US Dollar Adoption</a></li> 
 <li><a href="https://cryptonewsland.com/philippine-colleges-to-offer-bitcoin-and-crypto-courses/" rel="noopener noreferrer nofollow">Philippine Colleges to offer Bitcoin and crypto courses</a></li> 
 <li><a href="https://cryptonewsland.com/cz-lands-in-philippines-to-expand-binance-exchange/" rel="noopener noreferrer nofollow">CZ Lands In Philippines To Expand Binance Exchange</a></li> 
 <li><a href="https://cryptonewsland.com/philippines-will-soon-launch-its-nft-sale-collection-on-the-sandbox/" rel="noopener noreferrer nofollow">Philippines Will Soon Launch Its NFT Sale Collection on The Sandbox</a></li> 
</ul> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/philippines-preps-to-welcome-peso-pegged-stablecoin-phmu/">Philippines Preps to Welcome Peso-Pegged Stablecoin PHMU</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Philippines Preps to Welcome Peso-Pegged Stablecoin PHMU

Crypto News Land

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