When it comes to stablecoin every nation is in process to make it. However due to market supply and the gold weight mapping is something to watch out. As real world fiat makes the coins based on that. These days digital stablecoins are coming out and they don't follow the same model. They however get regulated by the banks as they want to enter into market with early circulation. 

Philippine has done the same right now. They launched the stablecoin in a rush and are in process of the get it out in the circulation now. Currently the stablecoin is released on the Ronin chain. Ronin is the same company behind axie infinity. And they created a blockchain on Ethereum layer 2 named ronin. Games are currently using it for posting bundled transactions. 

PHPC stablecoin is available through Ronin channels and the coins.ph for the buying spending and other marketplace spending. You may find the coins.ph for the withdrawal anywhere around the world. Which would make the usercase more stronger anywhere in the world. The stablecoin is regulated by the BSP in PH. 

The chain makes use of the Polygon and Ronin for the stablecoin operations. 

You can check out the whitepaper link here. 

Currently you can hold the 1000 PHPC and get weekly reward in the 8% based on the hold. You would be able to withdraw that to the coins.ph account and get the fiat currency in the meantime. 

You can check out more information on the coinsph for the interest and also the spending options of stablecoin.