Pilot Test of Wholesale Central Bank Digital Currency in PH ‘Til 2024, BSP Reiterates
BSP Dir. Glindro said that since the pilot is for wholesale CBDC, it is only limited to a number of participating financial institutions.
BSP Dir. Glindro said that since the pilot is for wholesale CBDC, it is only limited to a number of participating financial institutions.
With this good sign, the Monetary Board can finally focus on inflation targeting rather than foreign exchange rate management, Medalla said.
According to BSP Gov. Medalla, Project CBDH aims to allow any Southeast Asian native in the country to make wholesale transactions.
With this, the U.S. regulators promised to take a careful and cautious approach to crypto activities and exposure at banking organizations.
The BSP is encouraging Filipinos to give digital cash gifts this holiday season through interbank fund transfers and QRPh.
Citing the BSP Circular No. 1108, the central bank emphasized that virtual asset services providers must not lend out user funds.
BSP expects inflation to slowly decrease in the coming months, but warns it will take action to bring inflation back to target levels.
BSP warns public about imposters claiming to be Central Bank employees, scammers using phone, SMS, and email to request money or info.
BSP expresses concerns over proposed Maharlika Wealth Fund, which could affect GIR management and bank supervision.
The Central Bank confirmed to BitPinas that it checked the situation of the local exchanges to see if they were affected by the FTX’s collapse.