Bangko Sentral 'studying' central bank-issued digital currency, says Deputy Gov

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<p>MANILA - The Bangko Sentral ng Pilipinas is "studying" central bank-issued digital currencies and comparing notes with its counterparts to see its viability, an official said Friday. </p><p>The use of cryptocurrencies in central banks is "not a race" as the interest of public safety and a reliable payment system are their "overarching policy objective," BSP Deputy Governor Mert Tangonan told ANC.</p><p>"Cryptocurrency, or CBDC (central bank-issued digital currency), we have a technical working group that is studying, that has done research on CBDC and we are also comparing notes with other jurisdictions in the region," Tangonan said.</p><p>"And yes, it is very much in our horizon to see how and when it’s best to make this available," he added.</p><p>China is one of the pioneers to launch central bank digital currencies, which it reportedly wanted to further expand. It has been experimenting on digital currencies in select provinces.</p><p>Cryptocurrencies have gained popularity in recent years as well as the supposedly immutable ledger called blockchain. </p><p>Many users globally are trading cryptocurrencies such as Bitcoin and Ethereum, but many are also wary of the virtual money because of its volatility.</p><p><strong>— with a report from Reuters</strong></p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/03/02/21/bitcoin-mining-in-northern-chinese-province-to-be-halted-amid-energy-saving-push'>Bitcoin mining in northern Chinese province to be halted amid energy-saving push</a></li>	<li><a href='https://news.abs-cbn.com/business/10/30/19/china-seen-advancing-in-race-for-blockchain-supremacy'>China seen advancing in race for blockchain supremacy</a></li></ul><figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=1679734' width='100%'></iframe></figure><div class='iwantbar'>Watch more in <a href='//www.iwantv.com.ph/'>iWantv</a> or <a href='//tfc.tv/'>TFC.tv</a></div>

<p>China is one of the pioneers to launch central bank digital currencies, which it reportedly wanted to further expand. It has been experimenting on digital currencies in select provinces.</p><p>Cryptocurrencies have gained popularity in recent years as well as the supposedly immutable ledger called blockchain. </p><p>Many users globally are trading cryptocurrencies such as Bitcoin and Ethereum, but many are also wary of the virtual money because of its volatility.</p><p><strong>— with a report from Reuters</strong></p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/03/02/21/bitcoin-mining-in-northern-chinese-province-to-be-halted-amid-energy-saving-push'>Bitcoin mining in northern Chinese province to be halted amid energy-saving push</a></li>	<li><a href='https://news.abs-cbn.com/business/10/30/19/china-seen-advancing-in-race-for-blockchain-supremacy'>China seen advancing in race for blockchain supremacy</a></li></ul><figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=1679734' width='100%'></iframe></figure><div class='iwantbar'>Watch more in <a href='//www.iwantv.com.ph/'>iWantv</a> or <a href='//tfc.tv/'>TFC.tv</a></div>

<p>"Cryptocurrency, or CBDC (central bank-issued digital currency), we have a technical working group that is studying, that has done research on CBDC and we are also comparing notes with other jurisdictions in the region," Tangonan said.</p><p>"And yes, it is very much in our horizon to see how and when it’s best to make this available," he added.</p>

<p>MANILA - The Bangko Sentral ng Pilipinas is "studying" central bank-issued digital currencies and comparing notes with its counterparts to see its viability, an official said Friday. </p><p>The use of cryptocurrencies in central banks is "not a race" as the interest of public safety and a reliable payment system are their "overarching policy objective," BSP Deputy Governor Mert Tangonan told ANC.</p>

<p>The Bangko Sentral ng Pilipinas is "studying" central bank-issued digital currencies and comparing notes with its counterparts to see its viability, an official said Friday. <br /> </p>

The Bangko Sentral ng Pilipinas is "studying" central bank-issued digital currencies and comparing notes with its counterparts to see its viability, an official said Friday.

Bangko Sentral 'studying' central bank-issued digital currency, says Deputy Gov | ABS-CBN News

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Bangko Sentral 'studying' central bank-issued digital currency, says Deputy Gov

Bangko Sentral 'studying' central bank-issued digital currency, says Deputy Gov