🔥 Philippine Officials Forge Ahead with New Technologies

posted  21 Nov 2023
Photo - Philippine Officials Forge Ahead with New Technologies
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with other ongoing experiments is expected to fully transition the process into a digital format, moving away from outdated systems for monetary settlements.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.