RCBC Predicts Stablecoins Will Replace Traditional Remittance Channels
RCBC First Vice President Ryan Tongson says stablecoins will function like a shared ledger for cross-border transfers 24/7, but regulatory clarity from the Bangko Sentral ng Pilipinas remains critical before adoption accelerates.
Key Takeaway
A major Philippine bank executive publicly declared stablecoins will replace traditional remittance rails — not a side option, but the main channel.
Stablecoins will function like a "global Google sheet" that enables cross-border money transfers 24/7, according to RCBC First Vice President and Head of Global Filipino Banking Ryan Tongson.
He made the statement at the Asian Banking & Finance and Insurance Asia Summit 2026 in Manila, predicting that stablecoins will become mainstream for retail users once regulations and compliance standards are fully established. The technology would allow users to move money across borders every day of the year without traditional banking hour restrictions.
Tongson compared stablecoins to a shared ledger that no single person controls but whose transaction history cannot be altered or deleted. The blockchain-based approach would directly compete with traditional remittance channels that currently process billions in OFW transfers annually. Only 3 of 4 major Philippine banks currently cater to crypto exchanges, which explains why most Filipino crypto traders still rely on peer-to-peer channels or offshore platforms.
RCBC has positioned itself as a digital banking leader in recent years, launching the DiskarTech financial inclusion app in 2020 and the AI-powered RCBC Pulz platform in 2025. The bank also became Tesla's preferred financing partner in the Philippines in November 2024, offering fully digital loan approvals within one day.
Tongson said more Filipinos will likely start sending remittances and payments using blockchain once the Bangko Sentral ng Pilipinas sets clear regulatory and compliance standards for the industry.
🇵🇭 What This Means for Filipinos: If RCBC's prediction materializes, OFWs could bypass the 3-5% fees charged by traditional remittance services like Western Union and use USDT or USDC to send money home instantly. But only 3 of the country's 4 major banks currently support crypto exchanges, meaning most Filipinos still can't easily convert stablecoins to pesos through legitimate banking channels. BSP regulatory clarity in 2026 will determine whether this vision becomes reality or remains stuck in pilot mode.
