Written by Ezra Reguerrastaff writerReviewed by Yohan Yunstaff editor

Written by Ezra Reguerrastaff writer

Reviewed by Yohan Yunstaff editor

Philippine bank BPI plans stablecoin payments pilot

Latest NewsPublishedJul 24, 2026

The Philippine bank is preparing a stablecoin settlement pilot intended to speed up and reduce the cost of overseas payments to Filipino remote workers.

The Bank of the Philippine Islands (BPI) is planning to pilot a stablecoin-based settlement rail for cross-border payments to freelancers, virtual assistants and other workers receiving overseas income, as reported by local media reports. 

Developed with global digital clearinghouse Meridian, the system is intended to reduce the cost and processing time of inbound payments while retaining safeguards used in traditional banking transactions, as reported by ABS-CBN and the Philippine Daily Inquirer.

Stablecoins would be used as a settlement instrument before the funds are converted to Philippine pesos and credited to recipients’ BPI accounts. 

BPI president and CEO Jose Teodoro Limcaoco stated exploring stablecoin rails was a natural extension of the bank’s digitalization strategy, adding that the bank aims to make funds arrive faster and more cheaply without compromising security. 

The pilot will initially focus on payroll and other overseas earnings, with BPI planning a broader rollout ahead of the 49th ASEAN Summit in November. 

The bank stated it would coordinate with the Bangko Sentral ng Pilipinas, the nation’s central bank, while any wider rollout would depend on consumer protection, stablecoin reserve transparency and other regulatory safeguards. 

Related: Philippine SEC signals readiness for RWA tokenization

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• Stablecoin
• Philippines
• Asia
• Banks
• Blockchain

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