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BSP is creating a ‘Central Bank Digital Currency (CBDC)’ in the Philippines

The Bangko Sentral ng Pilipinas (BSP) announced on Wednesday its plan to launch a pilot project involving a central bank digital currency (CBDC). Officially called Project CBDCPH, the pilot project is meant to explore the viability of CBDC in large-value financial transactions. A CBDC is a digital token similar to cryptocurrencies, but instead of having […]