Oldest PH Bank Pilots Stablecoin Rails

Bank of the Philippine Islands (BPI), the country’s oldest bank, has officially partnered with global digital clearinghouse Meridian to pilot a stablecoin-based settlement system for cross-border payments.

Welcome to the CryptoPH Weekly Recap!

The central bank-monitored trial will initially handle inbound payroll credits for informal economy workers, including virtual assistants and gig-economy freelancers receiving payments from overseas clients. In the planned system, fiat-pegged stablecoins act as the fast, low-cost intermediary settlement token before funds are converted into Philippine Pesos and deposited into local BPI accounts.

The trial marks a complete evolution in Limcaoco's approach to digital assets. Shortly after taking the helm as CEO in July 2021, Limcaoco publicly stated he did not view private cryptocurrencies as a legitimate asset class due to a lack of underlying value, favoring central bank digital currencies (CBDCs) instead.

Full Article Here.

OKX Trading App Removed from Google Play Store in the PH

A search for "OKX" on Google Play now only surfaces the localized Coins.ph app and the self-custodial "OKX Wallet" application. The removal follows the SEC’s August 2025 enforcement advisory targeting 10 international platforms operating without VASP licenses, alongside direct takedown orders sent to Google and Meta.

Full Article Here.

Interactive Brokers (IBKR) Discontinues Stablecoin Deposits for PH Investors

International online trading platform Interactive Brokers (IBKR) has officially suspended its stablecoin deposit services for clients residing in the Philippines, sending direct email warnings to local account holders to immediately stop funding accounts via USDC or assigned wallet addresses.

Full Article Here.

Vietnam Promulgates Decree No. 284: Domestic Retail Investors Face Fines for Trading on Unlicensed Platforms

While the Philippines relies on app store takedowns and domain blocks, neighboring Vietnam is targeting the retail trader directly. The Vietnamese government has officially enacted Decree No. 284/2026/NĐ-CP, establishing administrative fines and operational suspensions for unauthorized crypto activities.

Full Article Here.

[Op-Ed] "Q-Day is Coming": BayaniChain CEO Warns Governments and RWA Platforms to Prepare for Post-Quantum Threats

Writing on the critical shift toward Post-Quantum Cryptography (PQC), Paul Soliman (Founder of Hacktiv Colab and CEO of BayaniChain) warned that the clock is ticking for Q-Day, the point where quantum computers become powerful enough to break asymmetric encryption (RSA and ECC) protecting banks, blockchains, and digital wallets.

Full Article Here.

Coins.ph CEO Wei Zhou Named to the 2026 Stablecoins Influential List

Coins.ph Chief Executive Officer Wei Zhou has been officially named to the global 2026 Stablecoins Influential List by Stablecon, recognized under the Exchanges, On/Off Ramps, and Consumer Access category.

Full Article Here.

Cryptita Plays Opens Builder Showcase Showcase Applications for WOCEE 2026

Educational initiative Cryptita Plays, founded by Filipino Web3 creator Arshelene Lingao, has opened registrations for its Builder Showcase taking place on August 8, 2026, at the SMX Convention Center Manila.

Full Article Here.

Get Ready for Coinfest Asia!

Coinfest Asia 2026, organized by Indonesia Crypto Network through its subsidiary Coinvestasi, will take place from Aug. 20 to 21 at Melasti Beach in Bali, Indonesia. The event is structured to bring together digital asset institutions, developers, and market participants. According to an announcement from the organizers, the event will introduce specialized content tracks and localized regional briefings.

Tickets for Coinfest Asia 2026 are now available! Use this link to get a discount!

What do you think is the most impactful crypto news story this week?

By Michael Mislos, Editor-in-Chief, BitPinas