The Philippines to launch pilot CBDC implementation By Cointelegraph

As the world of finance continues to transform, new forms of money are challenging traditional monetary infrastructures that have been around for a long time. Currently, central bank digital currencies (CBDCs) have caught the eye of various countries, including the Philippines.

In a joint event organized by Bangko Sentral ng Pilipinas (BSP) — the Philippines’ central bank — and the Alliance for Financial Inclusion, BSP Governer Benjamin Diokno announced the rollout of Project CBDCPh, a pilot implementation of a CBDC for the country. According to Diokno, the project aims to improve “the payment system’s safety, resiliency, and efficiency.”