Philippine banks are launching a multi-bank stablecoin PHPX on the Hedera DLT platform for cross-border payments and stable currency exchange with the ability for instant transfers 🚀

347 Total views in all languages

In 2025, several Philippine banks, including UnionBank, will launch a multi-bank stablecoin PHPX, which will operate on the Hedera DLT network. It will provide fast and secure cross-border payments, especially for migrants sending money home. The stablecoin will not only allow sending money but also paying bills and investing in financial products. A stablecoin exchange for different currencies will also be created, and the reserves of PHPX will be secured through bank trust accounts. The launch is scheduled for May-July 2025.

This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.

RoadMap

Top Articles of the Last 10 Days

President Trump signed an order to create the Strategic Bitcoin Reserve and the National Digital Asset Reserve to strengthen the U.S. position in managing cryptocurrencies

Senator Tim Scott proposes a bill to exclude "reputational risk" in banking regulations, with the goal of stopping the de-banking of cryptocurrency companies and legal businesses

Elon Musk through D.O.G.E directs funds to SpaceX and Tesla, manipulating figures in government spending, which raises questions about conflicts of interest

Franklin Templeton launches an ETF tracking the price of the cryptocurrency XRP, reflecting the growing interest in digital assets and expanding opportunities for investors

Microsoft is developing its own AI models and testing alternatives to OpenAI to compete in the technology space, investing $14 billion and hiring industry experts

Australia does not plan to create a strategic cryptocurrency reserve, despite the USA's initiative to include XRP, Bitcoin, and others in the national financial reserve

European regulators are investigating OKX's involvement in laundering $100 million from the hacked funds of Bybit, considering a potential violation of MiCA standards for cryptocurrency services

The IMF demands that El Salvador stop purchasing Bitcoin by the government sector as part of a $1.4 billion agreement to reduce financial risks and regulate cryptocurrency