Cebuana Lhuillier, the Philippines' largest microfinance provider, integrated with Stellar to offer blockchain-based remittances to 2,500 branches, enabling near-instant settlement and lower fees for cross-border payments.
Cebuana Lhuillier, the Philippines' leading microfinance services provider, announced integration with the Stellar network to deliver blockchain-powered remittance services across its 2,500 branches. The integration enables near-instant settlement of cross-border payments, reduces fees through on-chain MTO-to-MTO fund flows, and eliminates prefunding requirements that previously tied up working capital. This addresses the $589 billion remittance industry where the Philippines ranks among the top five recipient countries. Traditional remittances face one to four day settlement times and high fees; Stellar's digital rails allow local liquidity conversion on each side, improving speed and reducing forex costs. The Stellar Development Foundation highlighted this as a critical step toward equitable financial access in emerging markets.
