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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.

Crypto

Kakao Group, Circle cooperate on digital asset infrastructure including won stablecoin

Kakao Corp, Kakao Pay and KakaoBank will work with global fintech firm Circle to review building blockchain-based payment and settlement infrastructure, including a won stablecoin. Kakao Group said it signed a strategic cooperation agreement with Circle Internet Group on digital asset technology. The two sides plan to seek business opportunities in payments, settlements and digital asset links, and review won-based digital assets and tokenised financial services in line with domestic regulatory and market changes.

Crypto

K Bank to cooperate with Hong Kong\'s HashKey Group on digital asset remittances and payments

K Bank will build an overseas digital asset remittance cooperation network linking South Korean blockchain firm BPMG and Hong Kong\'s HashKey Group. It plans to pursue a proof of concept for blockchain-based remittances between South Korea and Hong Kong and prepare internal controls such as customer identification and anti-money laundering measures in anticipation of institutionalisation and regulatory approval. The parties will also explore expanding services across Asia by linking with HashKey\'s remittance network.