The Philippine central bank has assembled a committee to research the feasibility of central bank digital currency (CBDC) as well as its policy implications.
“We have to first look into the findings of the group before making any decision in this regard,” Bangko Sentral ng Pilipinas Governor Benjamin Diokno said. “I expect the EWG to submit their report next month.”
The CBDC announcement comes within the same week that the Philippine Bureau of the Treasury along with the Union Bank of the Philippines and the Philippine Digital Asset Exchange worked together to launch an app called Bonds.PH.
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