Defi Blog, Supported Assets

Stabull Temporarily Suspending Phillipines Peso Stablecoin (PHPC) from Platform

Published On: Jul 25, 2025•
Share

Effective today, 25th July, the PHPC stablecoin, issued by Coins.ph, will be temporarily suspended from the Stabull platform on Polygon.

Why This Is Happening
Coins.ph has announced that PHPC is exiting the Bangko Sentral ng Pilipinas (BSP) Sandbox as part of its next regulatory phase. As part of this transition, they are converting all PHPC balances back to Philippine Pesos (PHP). This can be done 1:1 via their platform.

⚠️ Deadline to convert PHPC to PHP on Coins.ph: July 31st, 2025
You must complete the conversion by depositing your PHPC (from external wallets) into a Coins.ph account with completed KYC verification.

What This Means for Stabull Users

This means that the PHPC pool will frozen, meaning that;

  • Swaps featuring PHPC will no longer execute
  • You cannot deposit USDC and PHPC to the pool
  • You cannot stake LP tokens to the corresponding PHPC vault
  • You will continue to be able to unstake from the vault at any time, as well as withdraw your liquidity to receive the underlying tokens (at the proportion of the pool at the time).
  • Liquidity Providers (LPs): Please unstake your LP tokens from any Polygon Vaults and withdraw your liquidity from the PHPC pool as soon as possible, which can be redeemed on PHP.

We plan to re-launch support for PHPC (provisionally in mid-September 2025), once the issuer completes their regulatory transition. However, token (and therefore Pool) contracts may change, and we’ll share full details before any relaunch. There will also be a UI update to remove PHPC from the front end in due course, but it will remain possible to withdraw tokens by interacting with the smart contract.

Need Help?
If you were a PHPC liquidity provider with tokens contained in the pool or vaults before July 24th, 2025, and have questions or run into issues:

  • Join our Discord and use the #create-ticket channel
  • Our support team will assist you as best we can
  • Unfortunately, we will not be able to assist with any assets added to the platform after this time, you’ll need to contact Coins.ph directly to assist.

We appreciate your understanding as Coins.ph works through this important compliance step. We’ll keep the community updated on the timeline for PHPC’s return to Stabull.

 

Share