Mamerto Tangonan on the Philippines’ global digital ecosystem
Deputy governor shares insights on the nexus of wCBDC and digital sovereign bonds, multilateral payments governance and 'smart' global trade
The Central Bank of the Philippines (BSP) concluded its Project Agila wCBDC testing in 2024 after the Treasury issued ₱10 billion ($165 million) in one-year tokenised Treasury bonds in 2023. Was the idea always to have digital bonds settled in wholesale CBDC, or is this a use case that transpired?
The projects originally developed independently. We’d been exploring CBDC since 2020 and we’d read enough of the literature to have some idea of how to go about it, how we can perhaps benefit from it
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