# USD → PHP: US Dollar to Philippine Peso settlement on Sera

> Filipino OFW remittances are >$36B/year. The market is dominated by remitters charging 4–7% all-in; Sera's settlement layer compresses that to <1% effective spread.

- **Corridor:** USD ↔ PHP (United States ↔ Philippines)
- **Status:** Live
- **Bridge stablecoins:** USDC ↔ USDC
- **Settlement speed:** Sub-second on-chain · ~15s door-to-door

## How settlement flows

USD via ACH → USDC → routed against PHP liquidity → PHP via InstaPay or PESONet to bank account or e-wallet (GCash/Maya).

## Local payment rails

- **United States (USD):**
  - FedNow (Real-time — 24/7/365)
  - ACH (Same-day — Same-day & next-day)
  - Fedwire (Wire)
- **Philippines (PHP):**
  - InstaPay (Real-time)
  - PESONet (Same-day)

## Use cases

- OFW remittance
- BPO payroll
- GCash/Maya top-ups

## Risk notes for liquidity providers

PHP central bank caps daily inbound; BSP licensed partners required. LP exposure is naturally split across many small tickets.

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Live page with current rates: https://sera.cx/coverage/usd-php · Swap at https://app.sera.cx · All corridors: https://sera.cx/coverage · Full corpus: https://sera.cx/llms-full.txt