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Bangko Sentral ‘Studying’ Central Bank-issued Digital Currency, Says Deputy Gov

by CBDC Insider
May 7, 2021
in Asia, Business
Reading Time: 1min read
0
Bangko Sentral ‘Studying’ Central Bank-issued Digital Currency, Says Deputy Gov
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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.

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“And yes, it is very much in our horizon to see how and when it’s best to make this available,” he added.

Read more: https://news.abs-cbn.com/business/05/07/21/bsp-studying-central-bank-issued-digital-currency-cryptocurrency

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