More than 400 small businesses in PH now accept Bitcoin payments

Digital payment platform Pouch.ph is helping more local merchants join the new frontier of digital economy.

A payment fintech launched in 2021 is transforming the landscape of the Philippine digital economy by enabling more than 400 small businesses to accept and process Bitcoin payments. Pouch.ph is tapping into the country’s vast pool of tiny merchants—from mom-and-pop stores to boutique hotels.

Pouch.ph utilizes Lightning Network built atop Bitcoin to make digital payments quicker, cheaper, and more user-friendly. This payment protocol allows customers to pay by scanning a merchant's QR code with any Bitcoin wallet. Pouch.ph then converts that Bitcoin to Pesos and sends the money directly to the merchant's bank or mobile money account, making the process easy and efficient for both parties.

Venture capital firms bullish about Boracay, Bitcoin, and the Lightning Network

Pouch.ph unveils the future of lightning payments at the first Bitcoin Island Retreat

As the US banking crisis and regulatory scrutiny continue to unfold, Bitcoin shows resilience by posting its third positive month in a row. This recent streak of positive gains for Bitcoin signals a strong outlook for the cryptocurrency, the lightning network, and the island of Boracay, as expressed by venture capitalists and government leaders during the first Bitcoin Island Retreat, which happened on March 27 to 29, 2023, at the Henann Regency Resort and Spa in Boracay Island.

Augie Ilag, HodlCo venture partner and former Sequoia Capital crypto investor, said that Boracay has the potential to revolutionize the remittance market using the Bitcoin Lightning Network.