Interactive Brokers, the U.S.-based online brokerage, has restricted stablecoin deposits for retail investors in the Philippines, according to a report by BitPinas. The move affects Philippine clients using cryptocurrencies like USDT and USDC to fund their trading accounts.
The restriction bars retail investors from depositing stablecoins, though withdrawals and other fiat-based funding methods remain available. Interactive Brokers cited evolving regulatory frameworks in the Philippines as a key factor behind the decision.
The development reflects growing scrutiny of stablecoins by Philippine regulators, including the Bangko Sentral ng Pilipinas and the Securities and Exchange Commission. Industry observers say this could impact crypto adoption among local retail traders who rely on stablecoins for forex and stock market access.