Netbank Launches 30-Minute USDC/USDT-to-Peso Off-Ramp
Netbank's new infrastructure lets Philippine fintechs convert USDC and USDT into local currency in under an hour using pre-agreed over-the-counter foreign exchange rates, eliminating the international wire transfers and nostro pre-funding delays that typically slow cross-border payments.
Key Takeaway
Banks are now competing on stablecoin settlement speed, not blocking it.
Fintechs and global payments platforms operating in the Philippines can now off-ramp stablecoins directly into local currency through Netbank's new infrastructure.
The service converts USDC and USDT into Philippine pesos in 30 to 60 minutes end-to-end. Netbank representatives said the system uses pre-agreed over-the-counter foreign exchange rates to eliminate unexpected slippage costs. The infrastructure removes the need for standard international wire transfers and tedious nostro pre-funding requirements, allowing financial technology firms to settle digital asset conversions within an hour instead of waiting days for cross-border bank transfers.
Banks globally are increasingly treating stablecoins as payments infrastructure rather than competition. ANZ, ABN AMRO, and Banking Circle are among institutions issuing or exploring bank-issued stablecoins to modernize payments and capture treasury flows. Circle has argued that stablecoins function as modern settlement infrastructure, giving banks clearer pathways to work with issuers rather than build independently.
Netbank emphasized that this accelerated settlement framework operates entirely within a fully regulated banking environment to ensure institutional trust. The service specifically targets the Philippine market where cross-border payment friction remains a costly problem for businesses moving money into the country. The launch follows Coins.ph enabling crypto payments at QRPh terminals on May 25, 2026.
🇵🇭 Filipino Impact
Philippine fintechs and payment platforms can now settle USDC and USDT into pesos in under an hour, cutting out traditional correspondent banking delays. This infrastructure could lower costs for businesses receiving international payments and remittance providers moving funds into the country.
This article was written based on reporting from Fintechnews.
