BPI partnering with Meridian to build stablecoin infrastructure for cross-border payments to Filipino freelancers.
DeFi & Yields ·
BPI is partnering with Meridian to develop stablecoin infrastructure enabling cross-border payments to Filipino freelancers. The collaboration aims to apply dollar-pegged digital tokens to streamline remittance flows, addressing friction in traditional correspondent banking where cross-border wires between non-partner institutions typically take two to five business days and incur $25–$50 per transaction in fees.
Stablecoin payments are transitioning from experimental pilots toward mainstream financial infrastructure, with monthly settlement volumes reaching $390 billion as banks, fintech startups, and regulators build compliant systems. The sector has attracted institutional entry driven by the speed advantage—settlement finalized within seconds rather than days—and the elimination of exchange-rate risk when transacting in dollar-pegged tokens. BPI's initiative with Meridian positions itself within this broader shift toward blockchain-based payment rails for cross-border value transfer.
The specifics of the partnership's scope, timeline, and rollout mechanics remain unclear. It is not yet known whether the pilot will apply to a specific stablecoin standard, what regulatory approvals may be required in the Philippines, or how Meridian's infrastructure will interact with existing banking rails.