Munify joined Circle Payments Network to enable USDC payouts to Philippines bank accounts and wallets, and disclosed $6M seed funding from YC and others.
Munify says it is now live on Circle Payments Network, a payments network that settles transfers using stablecoins (crypto tokens designed to track a currency like the US dollar). The integration lets Munify users receive money globally in USDC and convert it into Philippine pesos for local payout.
USDC is a US dollar stablecoin issued by Circle. In practice, this means a sender can move “digital dollars” that settle quickly, then the recipient gets pesos in a regular bank account or wallet.
CPN includes banks, payment service providers, and virtual asset service providers. Munify says this setup supports near real-time settlement, which is meant to reduce delays that come with traditional correspondent banking.
The company is targeting the Philippines remittance market, which it cites at nearly $40 billion in 2025. It also points to World Bank data showing that sending $200 still costs an average 5.7%.
Munify said the Philippines rollout extends its payout coverage across Asia, the Middle East, and Africa. It also supports multiple blockchain networks and offers products like USD accounts, virtual cards, and a stablecoin savings option.
Stablecoin payouts are becoming a practical option for cross-border payments, especially for freelancers, remote workers, and businesses that need predictable settlement times.
For African operators, the key signal is infrastructure maturity. A neobank integrating with a network like CPN can shorten payout times, simplify treasury flows, and potentially pressure remittance and payout providers to tighten fees.
Munify’s disclosure of $6 million in seed funding also suggests investors still see stablecoin rails as a core layer for global money movement, even as compliance requirements keep rising across markets.
Primary Source: businesswire.com
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