Cebuana Lhuillier to build Solana-based stablecoin payment rail with Fireblocks

Partnership structure

According to the announcement, the Philippine financial services provider will use Fireblocks’ wallet technology, network connectivity, and reconciliation tools as part of the rollout. The setup is designed to let Cebuana Lhuillier fund settlement accounts directly with international partners rather than relying on older settlement systems.

The companies said the platform will be built around stablecoins and supported by Solana. The stated goal is to create a payment rail that can handle transaction settlement across local and international use cases.

Planned rollout across branches

Cebuana Lhuillier said the initiative is meant to scale across its network of more than 3,500 branches. The company plans to extend the blockchain infrastructure across all corridors and customers within that footprint.

While the source article does not provide a launch date or name specific stablecoins to be used, it describes the effort as a broad deployment rather than a limited pilot. The branch network is central to the plan, suggesting the company intends to connect a large part of its existing financial services operation to the new settlement rail.

Why the shift is happening

The move comes amid continued growth in digital transactions in the Philippines. The source article links Cebuana Lhuillier’s decision to a wider push toward digitized payments in the country.

It notes that the Bangko Sentral ng Pilipinas aims to digitalize a significant portion of retail payments by 2028. Within that backdrop, stablecoin-based settlement is being positioned as an alternative to conventional infrastructure for moving money across domestic and cross-border channels.

Part of a broader blockchain strategy

The new project also builds on Cebuana Lhuillier’s earlier blockchain-related work. The company has previously collaborated with PayPal and the Philippine Digital Asset Exchange, or PDAX, on stablecoin-related remittance flows and cross-border transfers.

The article also places this effort alongside other domestic stablecoin implementations by local platforms, indicating that Cebuana Lhuillier’s latest move is part of a broader trend in the Philippine market rather than a standalone experiment.

Taken together, the announcement outlines a plan to use stablecoins, Fireblocks’ infrastructure, and Solana support to modernize settlement operations at scale. What remains unclear from the source is the implementation timeline, the exact transaction corridors that will be prioritized first, and how quickly the new rail will be expanded across the company’s full branch network.