Filipinos increasingly use digital channels to send and receive money, with mobile wallets offering faster access to funds. However, while interest in stablecoins is growing, trust remains a challenge, according to Visa’s Money Travels: 2026 Digital Remittances Adoption report. The study surveyed more than 45,000 remittance senders and receivers across 20 markets, including the Philippines.
Philippines Remains a Major Remittance Market
The report found that 72% of Filipinos send or receive money multiple times a year, while around 35% do so monthly. The Philippines also ranked as the top receiver-led market among key markets surveyed, with 45% of Filipino respondents receiving money from overseas in the past 12 months.
Family support remains a major reason for these transfers. Around 34% cited essential expenses, while 33% pointed to family or cultural obligations. Another 30% said they send or receive money for holidays and special occasions.
Mobile Wallets Lead in Speed
Digital transfers are gaining attention for their convenience and speed. According to the report, 44% of respondents identified mobile wallets as a way to access funds instantly. Direct bank transfers followed at 31%, while debit or credit card transactions through apps and websites accounted for 20%. Only 18% cited in-person transfers as providing instant access to funds. Meanwhile, 27% reported difficulties transacting outside normal banking hours.
Stablecoin Awareness Grows, but Trust Lags
The report also examined consumer awareness of stablecoins, finding that 42% of Filipino respondents had some awareness of the technology. However, only 38% expressed trust in stablecoin transfers, compared with 81% for cash remittances and 79% for digital remittances.
Education could help address this gap. About 79% of respondents want to learn more about stablecoins and how they work. The Philippine government was trusted by 70% of respondents to handle digital currencies, followed by global payment networks such as Visa at 68%.
Jeffrey Navarro, Country Manager for Visa Philippines, said: “Visa continues to be at the forefront of shaping global money movement and enabling faster as well as more secure and seamless money transfers will help build trust in emerging digital remittance methods and technologies such as stablecoins. With the Philippines becoming one of the most dynamic remittance markets in the region, we will continue to work with regulators as well as our bank and fintech partners to make money movement solutions more responsive to the evolving needs of Filipino consumers across the globe,”
The findings highlight the growing role of digital payments in the Philippines. While mobile wallets and online transfers offer convenient alternatives to traditional remittance channels, wider stablecoin adoption will depend on consumer education and trust.
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