BPI announced plans to begin using stablecoins as a remittance platform before the end of the year.
CEO Jose Teodoro K. Limcaoco said the bank will start implementation early next quarter, using stablecoins solely as a rail while remittances remain in fiat currency.
Settlement and transfer will occur on the blockchain, and clients will never see the stablecoin directly.
The bank has partnered with Meridian to launch stablecoin settlement rails designed to accelerate cross‑border payment flows.
BPI intends to pilot the infrastructure with payroll credits for informal‑economy workers, with a broader rollout slated for November.
Stablecoins are tied to fiat currencies or commodities to maintain a stable value, setting them apart from other cryptocurrencies.
First‑half net income fell 0.4% to P32.8 billion as increased expenses and loan‑loss provisions offset strong core business revenues.
