Stablecoins Could Slash Remittance Costs in the Philippines

For decades, millions of overseas Filipino workers have faced a frustrating reality: sending money home is expensive. Remittances can cost between 5% and 7%, eating into family budgets year after year.

The conversation around stablecoins has become increasingly relevant in the Philippines as banks and regulators explore how blockchain technology can bring down remittance costs significantly and speed up transactions.

Lito Villanueva, FinTech Alliance PH Founding Chairman, discussed this topic with Binance founder Changpeng 'CZ' Zhao at the ASEAN Tech Summit 2026. They highlighted that the Philippines is the third-largest country in terms of inward remittance volume, with $35 billion flowing into the country last year.

Villanueva emphasized the importance of reducing fees and making cross-border transactions more efficient, while also prioritizing consumer protection and security.