Philippines Explores Digital Currency for Sovereign Bond Sales Using Blockchain
The Philippines' Bureau of the Treasury is actively considering a strategic collaboration with the country's central bank to introduce digital currency in...
- The Philippines' Bureau of the Treasury is considering collaborating with the central bank to introduce digital currency in the sale of government securities.
- The country recently raised 15 billion pesos through its first-ever issuance of tokenized Treasury bonds using blockchain technology.
- The Bangko Sentral ng Pilipinas is actively experimenting with central bank digital currency for financial transactions.
- The existing DLT registry covers only half of the bond sale process, and there is potential for integration with the central bank's CBDC program.
- Tokenization is a growing sector, with Hong Kong and Citigroup making significant advancements.
- The Philippines plans to explore longer tenors for tokenized Treasury bonds in the future.
The article highlights the Philippines' interest in embracing digital currency and blockchain technology for government securities. It portrays a positive sentiment towards the potential benefits and advancements in the financial sector.