Chainalysis: Up to 10% of Remittances to the Philippines Settled in Stablecoins
- —Up to 10% of inbound Philippine remittances settle in stablecoins
- —Average P2P transfer in the three countries is $618 vs $1,210 globally
- —Over 80% of domestic transfers in the region are under $1,000
- —Cross-border stablecoin flows run 3.2x higher than domestic usage
Why it matters: Stablecoins are cementing their role as a settlement layer for remittances, cutting out correspondent banks and lowering fees for recipients.
Source: BitPinas