The Bangko Sentral ng Pilipinas is “studying” central bank-issued digital currencies and comparing notes with its counterparts to see its viability, an official said Friday.
The use of cryptocurrencies in central banks is “not a race” as the interest of public safety and a reliable payment system are their “overarching policy objective,” BSP Deputy Governor Mert Tangonan told ANC.
“Cryptocurrency, or CBDC (central bank-issued digital currency), we have a technical working group that is studying, that has done research on CBDC and we are also comparing notes with other jurisdictions in the region,” Tangonan said.
“And yes, it is very much in our horizon to see how and when it’s best to make this available,” he added.
