The central bank of the Philippines, otherwise known as Bangko Sentral ng Pilipinas (BSP), expresses its interest in launching its own central bank digital currency (CBDC).
In a story first covered on Bloomberg, the governor of BSP, Benjamin Diokno, stated the country had formed a research committee on the possible launch of digital currency. The article further states that the research team is set to release its findings in the coming month.
The committee, which was formed earlier this year, started its research on the policy implications and potential feasibility that digital currencies bring to the Philippines economy. Speaking in a virtual conference, Diokno said:
“We have to first look at the findings of the group before making a decision.”