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Product · Sat 25 Jul · 3 min read

BPI stablecoin pilot reshapes PH crypto payments

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What happened

Bank of the Philippine Islands (BPI), one of the country's oldest and largest universal banks, is preparing a stablecoin settlement pilot focused on OFW remittances. The goal is faster settlement and lower cost compared to traditional correspondent banking rails. BPI has not yet disclosed the specific stablecoin asset (peso-pegged or USD-denominated), the technology stack, or the timeline for BSP regulatory sign-off. What is confirmed is that a Tier 1 domestic bank is building internal stablecoin infrastructure, not just connecting to a third-party VASP.

Why it matters

Sources: Cointelegraph

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