BPI plans stablecoin payments pilot to enhance remittances for Filipino workers
Crypto Briefing 2026-07-24 10:11:57
Context: BPI, Southeast Asia's oldest bank, is planning a stablecoin settlement pilot with Meridian to improve remittance services for Filipino workers. The pilot aims to reduce costs and increase the speed of transactions, which could benefit the $40 billion in annual Philippine remittances. This initiative is expected to enhance the efficiency of cross-border payments.
Key Facts
- BPI, Southeast Asia's oldest bank, is collaborating with Meridian on a stablecoin settlement pilot to enhance remittance services for Filipino workers.
- The pilot aims to cut costs and speed up the $40 billion in annual Philippine remittances, which is a significant source of income for the country.
- The stablecoin settlement pilot is part of BPI's efforts to leverage blockchain technology and improve the efficiency of cross-border payments.