🔥 Philippine Officials Forge Ahead with New Technologies
posted 21 Nov 2023
The Philippines’ Bureau of the Treasury collaborates with the nation's
central bank to use digital currency (CBDC) for the sale of tokenized
government securities. This week, the government successfully raised
$271 million through tokenized one-year bonds.
Deputy
Treasurer Erwin Sta. Ana has indicated that the government is exploring
the capabilities of Distributed Ledger Technology (DLT) through
tokenization. The integration of this initiative with other ongoing
experiments is expected to fully transition the process into a digital
format, moving away from outdated systems for monetary settlements.
As
the market evolves, the government envisions offering longer-term
tokenized bonds to investors and entrepreneurs, expanding access to new
investment instruments for retail users.
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