Daily brief
Product · Philippines · Sun 15 Nov · 3 min read · By Roland Cinco
RCBC Pulz adds stablecoin transfers that settle in US dollars
What happened
RCBC and U.S.-regulated clearing network Meridian have expanded the RCBC Pulz U.S. Virtual Account to receive inbound stablecoin transfers that settle automatically as U.S. dollars.
BitPinas reported on 13 November 2026 that the upgrade accepts USDC and USDT across Ethereum, Polygon and Base for eligible overseas payments from the United States.
The service lets Filipino freelancers, virtual assistants and remote workers receive payments from U.S.-based clients and employers outside banking hours, including weekends and U.S. holidays.
Once Meridian and its U.S. partners receive an inbound transfer, the funds convert automatically into regular U.S. dollar balances credited directly to the recipient’s virtual account.
Account holders do not receive, hold or manage digital assets in their accounts; they can retain dollars or convert balances into pesos for linked RCBC accounts.
Other eligible payments include salaries and professional fees, subject to account verification and service requirements; RCBC and Meridian said additional blockchain networks would follow.
Why it matters
Sources: BitPinas
Related briefs
- Binance blocks MEXC-linked transfers after US money laundering actionBinance has barred transactions to and from MEXC Global, rejecting outgoing withdrawal requests and freezing incoming deposits for compliance review, BitPinas reported on 10 November 2026. The restriction took effect immediately after US regulators designated Seychelles-based MEXC a primary money laundering concern, according to BitPinas, following allegations of illicit finance activity. Binance said direct or indirect transfers involving MEXC, its affiliates or related entities would face further review, with affected funds and accounts potentially restricted temporarily. In its statement published on X, Binance also warned that transactions involving those entities may breach its terms of use, beyond triggering individual transfer reviews. The measure follows OKX founder Star Xu’s 7 November advisory urging customers to avoid direct transfers between MEXC and OKX because of automated compliance holds. MEXC CEO Vugar Usi said on 7 November that withdrawals remained solvent, orderly and fully functional, despite more than USD120 million in tracked net outflows. Usi also said MEXC had initiated an independent review of its compliance controls and planned to engage directly with US authorities following the enforcement announcement.Regulatory · Global
- Binance targets full withdrawal reopening after replacing stolen tokensBinance said on 14 November that it aims to reopen withdrawals for all remaining networks and assets by the end of the following week. The exchange said it had reopened withdrawals for 87 networks during the week, extending a phased resumption that began earlier in November after the October security breach. The Straits Times reported that Binance had restored all USD6.3 billion in stolen crypto-assets as at 12 November, according to a company social media post. The stolen assets included Bitcoin and more obscure tokens, which took Binance longer to find and purchase as it worked to replace customers’ holdings. Binance used a mixture of profits and emergency funds to replace the tokens, having pledged throughout the recovery process to cover customers’ losses in full. The FBI and Binance attributed the attack to North Korea, which denied responsibility; blockchain investigation firms attributed it to the North Korean group TraderTraitor. Binance’s initial investigation described a multi-stage attack beginning in June, followed by security breaches that culminated in the theft from its platform on 29 October.Philippines
- Korea FSC orders cyber checks and plans VASP reporting requirementsSouth Korea’s Financial Services Commission held a meeting on November 5 with ministries, organisations and financial industry groups to strengthen cyber defence against growing AI-driven hacking threats. Authorities will inspect about 580 business entities, examining externally accessible websites, staff management systems, internal work programmes and affiliated work programmes across traditional and nontraditional financial sectors. The inspections will cover certification and access controls, sales and management APIs, development and test systems, alongside executive responsibilities, cybersecurity decision-making and IT asset registers. Companies identifying vulnerabilities during inspections are instructed to immediately suspend service operations and cut external contact points, while authorities examine their cybersecurity controls and governance arrangements. Checks of external contact points for registered IT assets will finish by the end of November, with internal control examinations completed by the end of the year. Authorities plan November guidelines requiring virtual asset service providers to report hacking attacks immediately to financial authorities, rather than reporting only to the Korea Internet & Security Agency. Authorities also plan November supervisory rule changes, initially increasing mandatory third-party vulnerability evaluations from once to twice annually for large financial companies and expanding their scope.Regulatory · South Korea
Comments (0)
Be civil. No promotion. No confidential information.