Philippine central bank embraces digital tokens By Cointelegraph

Philippine central bank embraces digital tokens By Cointelegraph


Philippine central bank embraces digital tokens

The Philippine central bank sees digital tokens as a means to reduce the use of fiat money and improve the delivery of financial services in the country, even as the country is still studying its own digital currency.

Speaking to Bloomberg, Philippine central bank Bangko Sentral ng Pilipinas, or BSP, governor Benjamin Diokno said digital tokens “expand reach and lessen costs of financial services” as well as reduce the use of fiat money.

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