* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, June 1, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Why Starz Entertainment Stock Soared Today – The Motley Fool

    Unpacking the Surge: What Fueled Starz Entertainment’s Stock Explosion Today!

    Unveiling the Enigmatic: First Looks at Destruction and Puck in ‘The Sandman

    Jackie Chan Reveals This Family Member ‘Never Watched’ The Whole Of Any Of His Movies – Yahoo

    Jackie Chan Reveals This Family Member ‘Never Watched’ The Whole Of Any Of His Movies – Yahoo

    Mavs CEO holds firm on new arena, entertainment district in Dallas – Dallas News

    Mavs CEO Stands Strong on Vision for New Arena and Entertainment District in Dallas

    Entertainment: On Your Marks, Get Set, Beer Run! – Urban Milwaukee

    Get Ready to Race: The Ultimate Beer Run Experience Awaits!

    Rachel Guttman Launches Entertainment Law Firm Gutt Law, PLLC [Exclusive] – MusicRow.com

    Rachel Guttman Unveils Exciting New Entertainment Law Firm: Gutt Law, PLLC!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    This giant microwave may change the future of war – MIT Technology Review

    Revolutionizing Warfare: The Impact of a Game-Changing Giant Microwave

    Bajeed Pattan Joins Forbes Technology Council as Innovation Leader – PRWeb

    Bajeed Pattan Takes the Helm as Innovation Leader at Forbes Technology Council!

    Lafayette Regional Technology Council – Tech Leadership That’s Homegrown and Future-Focused – Discover Lafayette

    Lafayette Regional Technology Council – Tech Leadership That’s Homegrown and Future-Focused – Discover Lafayette

    Drone technology demo in Cambria County showcases future of lifesaving medical deliveries – local21news.com

    Revolutionizing Healthcare: Drone Technology Takes Flight for Lifesaving Medical Deliveries in Cambria County

    Revolutionary Harvesting Technology Promises to Slash CAR-T Manufacturing Costs!

    Stop the Machines: The Rise of Anti-Technology Extremism – International Centre for Counter-Terrorism – ICCT

    Unplugged: The Surge of Anti-Technology Extremism

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Why Starz Entertainment Stock Soared Today – The Motley Fool

    Unpacking the Surge: What Fueled Starz Entertainment’s Stock Explosion Today!

    Unveiling the Enigmatic: First Looks at Destruction and Puck in ‘The Sandman

    Jackie Chan Reveals This Family Member ‘Never Watched’ The Whole Of Any Of His Movies – Yahoo

    Jackie Chan Reveals This Family Member ‘Never Watched’ The Whole Of Any Of His Movies – Yahoo

    Mavs CEO holds firm on new arena, entertainment district in Dallas – Dallas News

    Mavs CEO Stands Strong on Vision for New Arena and Entertainment District in Dallas

    Entertainment: On Your Marks, Get Set, Beer Run! – Urban Milwaukee

    Get Ready to Race: The Ultimate Beer Run Experience Awaits!

    Rachel Guttman Launches Entertainment Law Firm Gutt Law, PLLC [Exclusive] – MusicRow.com

    Rachel Guttman Unveils Exciting New Entertainment Law Firm: Gutt Law, PLLC!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    This giant microwave may change the future of war – MIT Technology Review

    Revolutionizing Warfare: The Impact of a Game-Changing Giant Microwave

    Bajeed Pattan Joins Forbes Technology Council as Innovation Leader – PRWeb

    Bajeed Pattan Takes the Helm as Innovation Leader at Forbes Technology Council!

    Lafayette Regional Technology Council – Tech Leadership That’s Homegrown and Future-Focused – Discover Lafayette

    Lafayette Regional Technology Council – Tech Leadership That’s Homegrown and Future-Focused – Discover Lafayette

    Drone technology demo in Cambria County showcases future of lifesaving medical deliveries – local21news.com

    Revolutionizing Healthcare: Drone Technology Takes Flight for Lifesaving Medical Deliveries in Cambria County

    Revolutionary Harvesting Technology Promises to Slash CAR-T Manufacturing Costs!

    Stop the Machines: The Rise of Anti-Technology Extremism – International Centre for Counter-Terrorism – ICCT

    Unplugged: The Surge of Anti-Technology Extremism

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Philippines’ central bank greenlights pilot for Peso-backed stablecoin

May 13, 2024
in Business
Philippines’ central bank greenlights pilot for Peso-backed stablecoin
Share on FacebookShare on Twitter

Philippines’ central bank greenlights pilot for Peso-backed stablecoin

BSP approves pilot for PHPC, a Peso-backed stablecoin, in collaboration with Coins.ph.
Sandbox testing to evaluate PHPC’s real-world performance and impact on local fiat ecosystem.
Transition to real-world usage subject to final evaluations and approvals by central bank.

The digital currencies landscape in the Philippines is set for a major shift after the country’s central bank, Bangko Sentral ng Pilipinas (BSP), granted approval for the commencement of a pilot program for a Philippine Peso-backed stablecoin (PHPC).

BHP’s move signals a progressive step towards exploring the potential of blockchain technology and stablecoins in the nation’s financial ecosystem.

Sandbox testing to evaluate PHPC’s viability

The pilot program, conducted within the framework of BSP’s Regulatory Sandbox, will see the collaboration between the central bank and crypto wallet provider Coins.ph.

#ICYMI: #CoinsPH has been granted @bangkosentral (BSP) approval to pilot PHPC, a Philippine Peso stablecoin 🇵🇭

Learn more about this milestone and the pilot here: https://t.co/zpQQvr7Pv9 pic.twitter.com/a2jWB8mSeJ

— Coins.ph (@coinsph) May 9, 2024

The primary objective of the pilot program is to assess the real-world performance of the PHPC and its potential impact on the local fiat ecosystem.

Under the terms of the pilot, Coins.ph will maintain cash reserves in pesos equivalent to the circulating supply of PHPC within the sandbox environment, ensuring a stable 1:1 pegging of the digital currency to the Philippine peso.

BSP’s choice Coins.ph is strategic. Being a licensed crypto service provider in the Philippines, Coins.ph dominates Philippines crypto space, especially after its partnership with Circle in 2023 for USDC remittances in the Philippines. It was the first to add BRC-20-support in the Philippines.

The sandbox testing phase is designed to explore various use cases for PHPC, including domestic and cross-border payments, trading with other virtual assets, hedging against market volatility, and providing collateral and liquidity in decentralized finance (DeFi) applications.

These trials will provide valuable insights into PHPC’s practicality and effectiveness in facilitating financial transactions and promoting financial inclusion in the Philippines.

Transitioning from sandbox to real-world usage

While the pilot program marks an important milestone in the development of PHPC, its transition from a sandbox environment to real-world usage is contingent upon the results of the testing phase and final evaluations by the central bank.

According to local regulations, the duration of the testing period can range from three to 12 months, depending on the complexity of the project. However, no official deadline has been disclosed for the conclusion of the stablecoin experiment.

The current initiative to launch a Peso-backed stablecoin builds upon previous efforts to introduce stablecoins pegged to the Philippine peso, such as the PHX launched by UnionBank in 2019. UnionBank’s PHX, aimed at driving greater financial inclusion, is also redeemable for pesos and implemented on the bank’s i2i platform.

The emergence of PHPC and other stablecoin projects reflects the growing recognition of digital currencies as viable tools for enhancing financial services and expanding access to digital payments in the Philippines.

Share this articleCategoriesTags

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : CoinJournal – https://coinjournal.net/news/philippines-central-bank-greenlights-pilot-for-peso-backed-stablecoin/

Tags: businessCentralPhilippines
Previous Post

Kaspersky’s report reveals new tactics used by North Korean crypto hackers

Next Post

Bitget Wallet Unveils GetDrop: An Exclusive Airdrop Platform for High-quality Projects

Statewide Hawaii high school surfing closer with passage of funding bill – Spectrum News

Surf’s Up: Hawaii High School Surfing Program Secures Funding Boost!

June 1, 2025
Precision ecology for targeted conservation action – Nature

Unlocking Targeted Conservation: The Power of Precision Ecology

June 1, 2025
Climate scientists are hosting a 100-hour YouTube livestream in response to Trump’s research funding cuts – Space

Climate scientists are hosting a 100-hour YouTube livestream in response to Trump’s research funding cuts – Space

June 1, 2025
YouTube Science Star Derek Muller Confronts PFAS “Forever Chemicals”—In His Own Blood – Scientific American

YouTube Science Sensation Derek Muller Takes on PFAS “Forever Chemicals” Found in His Own Blood!

June 1, 2025
The 17 Recipes We Can’t Wait To Make This June – Yahoo

17 Must-Try Recipes to Savor This June!

June 1, 2025
Blaze, Duke, Lockett, Rademacher headline men’s freestyle champions at U20 World Team Trials – USA Wrestling

Rising Stars Shine: Blaze, Duke, Lockett, and Rademacher Claim Victory at U20 Men’s Freestyle Championships!

June 1, 2025
Looking Back at the Good Old Days of Growth Under Biden – Bloomberg.com

Looking Back at the Good Old Days of Growth Under Biden – Bloomberg.com

June 1, 2025
Why Starz Entertainment Stock Soared Today – The Motley Fool

Unpacking the Surge: What Fueled Starz Entertainment’s Stock Explosion Today!

June 1, 2025
White House acknowledges problems in RFK Jr.’s ‘Make America Healthy Again’ report – AP News

White House Admits Flaws in RFK Jr.’s ‘Make America Healthy Again’ Report

June 1, 2025
N.Y. landlords, lawmakers to face off over expanding upstate rent control – Spectrum News

Showdown Ahead: N.Y. Landlords and Lawmakers Clash Over Expanding Rent Control Upstate!

June 1, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (657)
  • Economy (672)
  • Entertainment (21,578)
  • General (15,254)
  • Health (9,714)
  • Lifestyle (674)
  • News (22,149)
  • People (673)
  • Politics (680)
  • Science (15,892)
  • Sports (21,177)
  • Technology (15,659)
  • World (660)

Recent News

Statewide Hawaii high school surfing closer with passage of funding bill – Spectrum News

Surf’s Up: Hawaii High School Surfing Program Secures Funding Boost!

June 1, 2025
Precision ecology for targeted conservation action – Nature

Unlocking Targeted Conservation: The Power of Precision Ecology

June 1, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version