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Open Stable Network (OSN), a leader in on-chain financial infrastructure, has officially activated a high-impact payment corridor between the United Arab Emirates and the Philippines. This strategic move introduces an advanced fiat to Stablecoin Forex settlement layer designed to streamline the massive financial flows between these two nations. By connecting local financial systems with global digital markets, the new corridor provides a modern alternative to legacy banking, directly supporting the nearly 900,000 Filipinos working in the UAE across sectors like healthcare, IT, and construction.
Key Highlights of the News
The activation of the UAE-Philippines corridor marks a significant shift in how cross-border value is moved:
- Significant Cost Savings: The network offers transaction fees that are up to 50% lower than those of leading traditional payment platforms.
- Targeted Workforce Support: The corridor serves a workforce of nearly 900,000 Filipinos, facilitating recurring flows for payroll and contractor payments.
- Enterprise-Grade Access: Businesses can now access bi-directional fund flows between stablecoins and multiple fiat currencies, including PHP, AED, USD, and EUR.
- Strategic Economic Alignment: The initiative is bolstered by the Philippines–UAE Comprehensive Economic Partnership Agreement (CEPA), which is set to expand bilateral trade.
- Elimination of Banking Latency: By utilizing on-chain rails, OSN removes the delays and complexities inherent in the traditional correspondent banking system.
Understanding Fiat-to-Stablecoin Forex
Fiat to stablecoin Forex refers to the process of exchanging traditional government-issued currencies (fiat) for digital stablecoins (digital assets pegged to a fiat currency) to facilitate foreign exchange transactions. Instead of routing money through multiple intermediary banks, which often results in high spreads and slow processing, this model uses blockchain technology as the settlement layer.
In this system, a business initiates a payment in its local currency (e.g., AED). This value is converted into a stablecoin on-chain, moved instantly across the network, and then ‘off-ramped’ into the recipient’s local currency (e.g., PHP). This process ensures that the Forex component is handled with much higher transparency and speed than traditional methods.
What this Means for Users
The transition to a fiat to Stablecoin Forex infrastructure provides several critical advantages for businesses and individuals:
Enhanced Operating Margins
With fees cut by up to half, businesses involved in trade or large-scale payroll can significantly improve their bottom line.
Near-Instant Settlements
Unlike traditional transfers that can take days, OSN’s infrastructure enables near-real-time fund movement, which is vital for urgent supplier payments.
Reduced FX Exposure
By bypassing the slow batching processes of traditional banks, users are less exposed to currency fluctuations during the transfer period.
Scalability for SMEs
Small and medium enterprises can now access global payment rails that were previously only affordable for large multinational corporations.
Full Transparency
Blockchain-enabled infrastructure provides an immutable record of every transaction, improving auditability and settlement speed.
About OSN
Open Stable Network (OSN) is a global on-chain settlement infrastructure provider dedicated to bridging the gap between digital assets and traditional fiat rails. Through robust APIs and Web3 technology, OSN connects local currency stablecoins across various jurisdictions. Their mission is to empower banks, payment providers, and enterprises to move value instantly and securely, making global digital payments truly borderless.
Final Words
The launch of the UAE–Philippines corridor is more than just a technological upgrade; it is a vital economic bridge. As the world moves toward more efficient, on-chain solutions, the adoption of fiat to Stablecoin Forex will continue to play a pivotal role in bridging digital assets with traditional finance. By aligning with regional visions for innovation and trade, OSN is setting a new standard for how global financial infrastructure should function in a connected world.
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