OSN Launches Fiat-to-Stablecoin FX Settlement Corridor for Philippine Trade
The new corridor supports payroll and supplier payments for 900,000 Filipinos in the UAE by connecting the local financial system with global markets, offering up to 50% lower fees than traditional platforms.
Get the hottest Fintech Middle East News once a month in your Inbox
Open Stable Network (OSN), a global on-chain foreign exchange (FX) settlement infrastructure provider, has activated a new payment corridor between the Philippines and the UAE.
This infrastructure provides businesses with enterprise-grade access to fiat-to-stablecoin FX settlements across emerging and major financial markets.
OSN claims that this new corridor offers transaction fees up to 50% lower than those found on leading payment platforms.
The framework eliminates the high costs and delays typical of legacy correspondent banking. It facilitates bi-directional fund flows between stablecoins and fiat currencies like the USD, AED, EUR, and PHP.
Businesses can bypass the latency and expenses associated with traditional banking systems using this model. The system enables seamless transfers between various stablecoins and fiat currencies, including the PHP and AED.
The UAE currently employs nearly 900,000 Filipinos across various sectors, including IT, healthcare, and construction.
This significant workforce drives consistent cross-border flows for enterprise payroll, contractor payments, and supplier settlements.
Lawrence Chu
Lawrence Chu, Co-Founder of OSN, stated: “High-volume corridors like UAE–Philippines are where modern payment rails deliver the greatest impact.”
He added that the company focuses on building infrastructure that helps businesses scale across these markets.
Abdulla Al Dhaheri, CEO of The Blockchain Center Abu Dhabi, noted that as trade and services flows expand, “blockchain-enabled payment infrastructure can play a vital role in improving efficiency, transparency, and settlement speed.”
OSN’s initiative promotes innovation in global financial infrastructure by aligning with regional visions to bridge digital assets and fiat rails.
Featured image: Edited by Fintech News Middle East based on an image by rahmatnurohman3881 via Freepik.
