Visa: No firm timeline for stablecoin adoption in Philippines

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October 25, 2026 | 12:00am

MANILA, Philippines — Global payments giant Visa has yet to establish a firm timeline for the adoption of stablecoin-based money transfers in the Philippines, even as it begins commercially deploying the technology overseas to make cross-border payments faster and more efficient.

Visa Direct head for regional Southeast Asia Qinwen Xiao said the introduction of stablecoins would depend on the readiness of local financial institutions, regulators and consumers.

Stablecoins are digital assets designed to maintain a stable value by being pegged to currencies such as the dollar.

“Unfortunately, I don’t have a timeline on when exactly the consumers or businesses or financial institutions will adopt stable coins,” Xiao said during a media briefing on Thursday.

The company said it would continue discussions with Philippine banks, financial technology (fintech) firms and regulators to explore potential applications of stablecoins in international money transfers.

The absence of a definite Philippine timetable comes as Visa expands its stablecoin capabilities globally.

On Oct. 15, Visa announced that its stablecoin-enabled prefunding service had moved from pilot testing to commercial deployment, with payments infrastructure provider Inyo Global becoming its first partner to bring the service into production.

Meanwhile, the payments company is targeting the rollout of another partner-led Visa Direct service in the Philippines within the next six months.

“Where we are now is being able to launch it hopefully in the next six months to make that service available,” Visa Philippines country manager Jeffrey Navarro said.

Visa Direct is the company’s money movement platform that enables banks, remittance companies and other financial institutions to send funds across borders to eligible bank accounts, payment cards and digital wallets.

Unlike stablecoin-based services, the planned rollout involves Visa Direct’s broader payment infrastructure, which allows participating institutions to facilitate international transfers using conventional currencies.

Visa has existing partnerships with Philippine banks, including Bank of the Philippine Islands, which earlier announced plans to introduce outbound international transfers through its mobile application by the first quarter of 2027.

While Visa continues to expand its payment infrastructure, its latest consumer survey showed that Filipinos remain cautious about adopting stablecoins.

The Money Travels 2026 report found that 42 percent of Filipino respondents were aware of stablecoins, although only about 20 percent had some knowledge of how the technology works.

Actual usage remained limited, with only two percent of respondents who had used international transfer services reporting stablecoin transactions.

Trust also emerged as a major obstacle to wider adoption.

Only 38 percent of Filipino respondents expressed trust in stablecoin remittances, compared with 79 percent for conventional digital transfers and 81 percent for cash-based remittances.

The survey also found that 70 percent trusted government institutions or central banks to handle digital currencies, followed by global payment networks at 68 percent and traditional commercial banks at 59 percent.

“With the Philippines becoming one of the most dynamic remittance markets in the region, we will continue to work with regulators as well as our bank and fintech partners to make money movement solutions more responsive to the evolving needs of Filipino consumers across the globe,” Navarro said.

The global study, conducted by Morning Consult on behalf of Visa, surveyed more than 45,000 respondents across 20 markets, including 3,101 Filipino adults.