The Bangko Sentral ng Pilipinas says it is high time to use stablecoins in transactions, noting that it will be a stepping stone in revolutionizing payments while raising the country's GDP.
The fintech firm highlights the vast benefits Filipino users can reap by using blockchain technology, including promoting financial inclusion, ease in buying goods, and swift transaction times.
Boracay is renowned for its beaches and resorts, but it’s now seeking to become a digital asset island—can it avoid El Salvador’s Bitcoin Beach mistakes?
Binance was booted out of the Philippines and shortly after claimed to be in talks to acquire a licensed VASP—Infrawatch says this can’t be allowed to happen.
A Binance executive has confirmed the exchange is in talks to acquire a licensed company after losing out on approval from BSP, which is now not issuing new licenses.
The Philippines' banking industry will be piloting a 12-month regulatory framework that aims to deliver innovative financial services to consumers while at the same time expanding financial inclusion.
President Ferdinand "Bongbong" Marcos Jr. believes the Philippines must leverage digital innovations to stay competitive globally, mentioning blockchain as a key technology.
Dito CME believes that with a population of 110 million and a media age of 25, the Philippines has the numbers to dominate the blockchain sector in Asia.
A lengthy prison term and a hefty fine await individuals affiliated with and promoting Peak Finance, an unlicensed platform that piqued the interest of many due to a promise of mouthwatering returns.
GoTyme and UnionDigital Bank recently got the green light from the Bangko Sentral ng Pilipinas (BSP) and have now started operations, taking the number of digital banks in the country to six.
A recent hearing by the Committee on Banks and Financial Institutions put the central bank and the securities regulator to task on how they’ve handled digital assets and protected investors.
The Philippine central bank is not closing its doors to developments in digital currency exchanges but remains cautious about the potential risks of using foreign VASPs and investing in digital assets.
