{"id":146457,"date":"2025-01-10T22:00:53","date_gmt":"2025-01-10T20:00:53","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=146457"},"modified":"2025-01-10T12:48:24","modified_gmt":"2025-01-10T10:48:24","slug":"philippines-set-to-launch-new-stablecoin-for-international-payments","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/philippines-set-to-launch-new-stablecoin-for-international-payments\/","title":{"rendered":"Philippines Set to Launch New Stablecoin for International Payments"},"content":{"rendered":"

The initiative<\/a><\/strong>, driven by a collaboration between several Philippine banks, will be based on the Hedera<\/a> <\/strong>DLT network and is expected to launch between May and July.<\/p>\n

UnionBank of the Philippines, along with other financial institutions such as Rizal Commercial Banking, Cantilan Bank, and Rural Bank of Guinobatan, is playing a key role in the creation of PHPX. The project intends to transform the remittance landscape by enabling real-time payments, providing a solution for Filipinos abroad to send money back home efficiently.<\/p>\n

As the Philippines relies heavily on remittances\u2014$40 billion were sent back to the country in 2024\u2014the launch of PHPX aims to offer more than just a medium for domestic transactions. It will serve as a tool for seamless international payments and could potentially be used for paying school fees, directly from abroad, with immediate effect.<\/p>\n