RCBC taps stablecoins to streamline US payments for Filipino workers

Insider Spotlight

• RCBC adds stablecoin transfers for Filipinos earning from US clients
• USDC and USDT payments automatically convert into dollar balances
• The service supports transfers beyond traditional banking hours
  
  
  
  

Filipino freelancers and remote workers earning from US-based clients are gaining another way to receive overseas payments as banks increasingly adopt stablecoin technology to address limitations in traditional cross-border transactions.

Rizal Commercial Banking Corporation (RCBC) has expanded its US Virtual Account service on the RCBC Pulz app through a partnership with US-regulated clearing network Meridian, allowing inbound transfers using USDC and USDT stablecoins.

USDC (USD Coin) and USDT (Tether) are cryptocurrencies designed to maintain a value equivalent to the US dollar. USDC is issued by Circle, while USDT is issued by Tether.

 Lito Villanueva

RCBC executive vice president and chief innovation and inclusion officer

Why it matters

The development brings blockchain-based payment infrastructure into conventional banking, potentially improving payment flexibility for Filipinos working with overseas employers without requiring them to hold or manage cryptocurrencies.

The service supports transfers through the Ethereum, Polygon and Base networks, with additional networks planned.

Incoming stablecoins are automatically converted into regular US dollar balances through Meridian and its US partners. Customers do not receive or hold cryptocurrencies in their virtual accounts. They can subsequently convert their dollar balances into pesos for deposit into their RCBC accounts, according to a company release.

The bigger picture

Traditional payment channels, including Automated Clearing House (ACH) and Fedwire, operate within established banking schedules. Stablecoin networks, by comparison, can process transfers around the clock, including weekends and holidays.

The arrangement could provide greater flexibility for freelancers, virtual assistants and other remote professionals receiving salaries and professional fees from American clients.

"At RCBC, we continue to develop digital banking solutions that respond to the evolving needs of Filipinos, particularly those working with clients and employers overseas. By enabling stablecoin transfers through the U.S. Virtual Account, we are giving freelancers and remote workers another way to receive their earnings, with the flexibility of around-the-clock transfers and the convenience of having funds automatically converted into regular USD balances for their banking needs," RCBC executive vice president and chief innovation and inclusion officer Lito Villanueva said.

What's next

The enhancement builds on RCBC's US Virtual Account service introduced in late 2025, which the bank said has attracted thousands of professionals receiving overseas earnings.

Meridian CEO Will Haering said the integration demonstrates how stablecoin infrastructure can support conventional banking services. – Princess Daisy C. Ominga | Ed: Corrie S. Narisma