East Asia & Pacific · GDP rank #28
Philippines
PH · PHP @ 0.0162/USD
Tab 05
Cross-border
Inbound and outbound remittance corridors, tourism flows, FX markup on retail cross-border, and the country's posture on stablecoin adoption. Corridor figures come from the World Bank RPW feed or the publishing central bank; both are cited when they disagree.
Reported inbound corridors
5 corridors
Reported outbound corridors
1 corridor
Avg. consumer FX markup
Trend · compressing
Top inbound corridors
- United States$15.0B
via Remitly, Wise, Western Union, PNB Remit, BDO · 4.2% cost
- Saudi Arabia$2.6B
4.1% cost
- United Arab Emirates$4.2B
3.6% cost
- Hong Kong$1.8B
3.1% cost
- Singapore$900.0M
2.9% cost
Top outbound corridors
- China (Mainland)$50.0M
4.8% cost
FX cost
What consumers pay above the interbank
Retail FX markup is the spread between the mid-market rate and the rate the consumer receives — the single largest friction point in small-ticket cross-border.
PayNow-PESONet corridor plus Remitly and Wise pushing costs below 2% from major G20 sources; informal MSB rails still capture cash-out pricing.
Consumer FX markup vs 3% ceiling
Benchmark 3% is the G20 target for average remittance corridor cost; above the mark is expensive by policy standard.
Trend · compressing
World Bank Remittance Prices Worldwide
BSP issued PHPC (Philippine Peso Coin) regulatory sandbox approval for Coins.ph in 2024; USDC and USDT accepted as Virtual Asset Service Provider products under BSP Circular 1108.