One in Five Philippine Survey Respondents Use Stablecoins for Cross-Border Payments

One in five Philippine business respondents already use stablecoins for cross-border payments, the highest share in a five-market survey that also found widespread delays and fees in traditional banking.

The survey covered 150 business operators and payments decision-makers in the Philippines, Singapore, Hong Kong, Indonesia and Vietnam. Current use stood at 17% in Singapore and 14% in Hong Kong. Respondents in Indonesia and Vietnam reported no current use, putting the Philippines at the top of the surveyed markets.

Payment delays were a financial planning concern for 83% of Philippine respondents. For 77%, international invoice payments took at least two business days to reach domestic bank accounts; 23% faced waits of four to seven business days. Meanwhile, 60% said intermediary bank charges and currency conversion spreads consumed at least 3% of their international earnings.

Local access to funds also figured in adoption plans. Among Philippine respondents considering stablecoins, 81% said the ability to convert and withdraw funds instantly in Philippine pesos would have a very high impact on their confidence. That was the largest share among the five markets. All Philippine respondents identified regulatory compliance as essential.

Across the full survey, 87% had encountered at least one banking disruption in the previous year, including an unexpected payment delay or a blocked international wire. A total of 94% considered an alternative payment route a valuable operational backup.

Another 43% of Philippine respondents were evaluating stablecoin integration for the next 12 to 24 months. Together with current users, they represented 63% of the Philippine sample using or assessing these payment options. “Faster settlement matters, but so does the ability to plan around the money,” said Renna Ba, director of operations at Morph.