Bank of the Philippine Islands (BPI) is piloting stablecoin-based settlement rails to speed up and reduce the cost of cross-border payroll payments for freelancers and other workers receiving income from abroad.
The initiative, developed with global digital clearinghouse Meridian, will initially focus on payroll disbursements before expanding to more clients ahead of the ASEAN Summit in November.
BPI said the pilot supports its digitalization strategy and will be implemented in coordination with the Bangko Sentral ng Pilipinas while complying with existing regulations.
The bank expects the new system to shorten settlement times, lower transfer and currency conversion costs, and maintain secure transactions.
BPI added that consumer protection, reserve transparency, and regulatory compliance will remain central as it tests the stablecoin-based payment infrastructure.
Source: PhilNews24 | July 26, 2026
