BPI Pilots Stablecoin Rails for Faster Cross-Border Payments

Working alongside the digital clearinghouse Meridian, BPI is currently running a pilot program focused on inbound payroll and overseas earnings. This initiative integrates stablecoin technology as a settlement layer, allowing the bank to bypass traditional banking friction without abandoning established security protocols. BPI President and CEO Jose Teodoro Limcaoco stated the project aligns with the bank’s broader digitalization strategy, prioritizing efficiency for Filipinos reliant on foreign income.

Expansion plans are already underway, with the bank targeting a public showcase before the 49th ASEAN Summit in November. The project operates under the close observation of the Bangko Sentral ng Pilipinas (BSP), which continues to refine its oversight of digital assets. While the BSP maintains strict requirements for reserve transparency and redemption rights, BPI’s approach marks a shift toward blending institutional banking safeguards with the speed of decentralized ledger technology. The trial represents a significant test case for stablecoin utility within the country's regulated financial sector, distinct from the blockchain-native payments already gaining traction through local exchanges like Coins.ph.