Munify has integrated with the Circle network to enable USDC stablecoin payouts into the Philippines, as reported by the Business Wire.

The strategic integration allows users to receive global funds and convert them directly into Philippine pesos.

Customers can route these converted funds directly to local bank accounts and digital wallets.

This development improves the speed and efficiency of cross border transfers into one of the largest remittance markets globally.

Central bank data shows that remittances account for over 8% of the national gross domestic product.

These vital cash inflows reached nearly US$40 billion in 2025 as over 2.1 million overseas workers rely on the channels.

Despite the massive market volume the average cost of sending US$200 still exceeds 5.7%.

Munify Chief Executive Officer Khalid Ashmawy stated that users still face high transaction costs and slow settlement times.

Ashmawy explained that the network integration improves local settlement processes to provide a highly efficient user experience.

Circle Senior Vice President of Product Management Irfan Ganchi noted that the connection streamlines cross border financial flows.

Ganchi added that the system enables the efficient conversion of digital dollars directly into local currency.

The expansion addresses significant local demand since 44% of adults in the country remain entirely unbanked.

The digital platform currently supports eight blockchain networks and offers virtual cards for global spending.

The neobank recently secured US$6 million in seed funding from major investors including Y Combinator and Digital Currency Group.

Featured image: Edited by Fintech News Philippines based on an image by thanyakij-12 via Magnific.