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Crypto

Philippines\' BPI pushes stablecoin payment pilot

Philippine lender BPI is pushing a pilot to settle overseas remittances using stablecoins for freelancers, virtual assistants and others who receive income from abroad. The bank is preparing a payment system aimed at cutting the time and cost of processing inbound funds. The system will be developed with global digital clearing house Meridian, converting stablecoin settlements into Philippine pesos and depositing them into recipients\' BPI accounts, while keeping existing banking safeguards.

Industry

Lithuania builds space industry on small satellites, aims for 1 percent of GDP by 2027

Lithuania is emerging as a new centre of Europe’s space industry by riding growth in the low-Earth orbit small satellite market, as the sector shifts from large satellites to low-cost mass production. The government aims to lift the space industry’s contribution to gross domestic product to 1 percent by 2027. Local startup NanoAvionics has won a contract to supply 280 satellites for Meridian Space’s LEO network project.