Digital remittances gain ground as Filipinos explore stablecoins

Insider Spotlight

• The Philippines emerged as the leading receiver-led remittance market among six Asia-Pacific economies surveyed by Visa
• Mobile wallets and digital banking are gaining traction as Filipinos prioritize faster, more convenient cross-border transfers
• While 42 percent of Filipino respondents are aware of stablecoins, 79 percent want more education about the emerging technology
  
  
  

Digital remittances are reshaping how Filipinos receive financial support from overseas, creating opportunities for banks, fintech companies, and payment providers to expand cross-border services as demand for faster transactions grows.

Visa's Money Travels: 2026 Digital Remittances Adoption report found that the Philippines leads six surveyed Asia-Pacific markets in remittance receipts, with 45 percent of Filipino respondents receiving money from overseas in the past year.

Accessible payment solutions

Remittances remain essential to Filipino households, with 72 percent of respondents sending or receiving money multiple times annually and approximately 35 percent doing so monthly.

Supporting daily necessities drives 34 percent of transfers, while 33 percent cite family or cultural obligations. Another 30 percent send money for holidays and special occasions.

The findings highlight opportunities for financial institutions to develop accessible payment solutions serving overseas Filipinos and their families.

Speed is key

Speed is influencing consumer preferences, with 44 percent of respondents reporting instant access to funds through mobile wallets.

Digital bank transfers follow at 31 percent, while card-based transfers through applications or websites account for 20 percent.

Only 19 percent of Filipinos report using physical money transfer agents or stores, reflecting growing reliance on digital channels.

Potential value

Stablecoins, digital currencies designed to maintain a relatively stable value, represent another potential avenue for cross-border payments.

However, consumer confidence remains a challenge.

While 42 percent of Filipino respondents have some awareness of stablecoins, only 38 percent trust stablecoin transfers, compared with 81 percent for cash remittances and 79 percent for digital remittances.

Meanwhile, 79 percent want more education about stablecoins, highlighting the importance of financial literacy and consumer protection.

Jeffrey Navarro

Country manager, Visa Philippines

Trust 

“Visa continues to be at the forefront of shaping global money movement and enabling faster as well as more secure and seamless money transfers will help build trust in emerging digital remittance methods and technologies such as stablecoins,” Visa Philippines country manager Jeffrey Navarro said in a press statement. 

“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,” he added.

The study, conducted by Morning Consult between Feb. 24 and March 2, 2026, surveyed more than 45,000 remittance senders and receivers across 20 markets. —Vanessa Hidalgo | Ed: Corrie S. Narisma