Philippines Apex Bank Restricts DCPay Philippines Cash-Ins

The central bank of the Philippines has placed a partial suspension on DCPay Philippines Inc. regarding inbound transfers through the country’s main retail payment networks.

DCPay Philippines Inc is the owner and operator of Coins.ph crypto wallet app, one of the country’s best crypto wallets.

The Bangko Sentral ng Pilipinas (BSP), apart from playing the role of price stability, supervising banks and issuing the country’s official currency (Peso), it is also responsible for monitoring the use of e-wallets and regulating emerging financial technologies (FinTech) and digital asset service providers.

In furtherance of its law-backed roles, the apex bank on September 30, 2026, issued a statement under Monetary Board Resolution No. 839, blocking incoming credit transfers to DCPay through InstaPay and PESONet. All financial institutions have been notified of the partial restriction.

Personal QR code transfers and DCPay’s inbound processing through InstaPay for Business will also be affected by the temporary suspension.

What does this mean for Coins.ph users?

Coins.ph users will not be able to receive funds from external banks and other e-wallets, including GCash and Maya, pending the time the suspension is lifted.

Unaffected features

Outbound transfers remain available, meaning users will be able to move their funds from Coins.ph to external bank accounts.

Payments at merchants using the QRPh national standard is also not affected, meaning users can spend existing peso and cryptocurrency balances.

Coins.ph holds two licenses: DCPay and Betur Inc. While DCPay holds the BSP license for electronic money issuance and handles peso wallet services, Betur Inc. holds a Virtual Asset Service Provider license for crypto custody and trading, according to Bilyonaryo.com

Meanwhile Betur’s digital asset operations are not affected by the suspension, but users funding crypto purchases through local bank transfers may have to wait till the issue behind the suspension is resolved.