According to Philstar Biz, Cebuana Lhuillier and Fireblocks are building a next-generation payments platform that leverages blockchain technology to enable cross-border transactions via stablecoin rails.
The initiative aims to modernize remittance and payment flows, potentially offering faster settlement and lower costs compared with traditional banking corridors. For Cebuana Lhuillier, a major Philippine financial services provider with a large remittance network, integrating stablecoin infrastructure could expand its reach to underbanked customers and improve efficiency in cross-border money transfers.
The move reflects a growing shift among Philippine financial institutions toward blockchain-based settlement, particularly for overseas Filipino remittances. Fireblocks, a digital asset infrastructure provider, supplies the security and custody tools needed for enterprises to adopt stablecoin payments while managing regulatory and operational risks.