BSP says wholesale CBDCs can reduce transaction costs, lags

CROSS-BORDER PAYMENTS, including remittances and institutional transfers, and financial securities settlement are among the most promising applications for a wholesale central bank digital currency (wCBDC) in the Philippines, the Bangko Sentral ng Pilipinas (BSP) said. A report on the central bank’s Project Agila, its pilot project to explore the potential introduction of wCBDCs in the […]