According to Manila Bulletin, the Bank of the Philippine Islands (BPI) has partnered with digital clearing institution Meridian to pilot a stablecoin-based cross-border settlement system. The goal is to reduce overseas remittance costs and shorten transaction times. Stablecoins will be used as settlement tools, with funds later converted into Philippine pesos and deposited into recipients' accounts. The initial pilot will cover freelancers, virtual assistants, overseas Filipino workers, and exporters, with plans to expand to all BPI customers in the future. BPI stated that the project will be implemented under the current regulatory framework and in coordination with the Philippine central bank. https://(wublock123.com)/news/philippines-archipelago-bank-stablecoin-cross-border-settlement-65305