Benise Balaoing

The facade of the Bangko Sentral ng Pilipinas on February 15, 2024. Jonathan Cellona, ABS-CBN News

Article (news)

ABS-CBN News

MANILA -- The Bangko Sentral ng Pilipinas (BSP) is eyeing the use of wholesale central bank digital currency (wCBDC) in large international payments.A CBDC is a form of digital currency backed by the central bank. Unlike cryptocurrencies, whose values fluctuate, a CBDC has a stable value. Countries have been exploring the use of CBDCs since the rise of cryptocurrency and blockchain technology. The Bahamas was the first country to deploy a CBDC, followed by Nigeria and Jamaica. Most countries around the world, like the Philippines and the USA, are still studying the deployment of CBDCs.In its latest Project Agila report, the BSP said wCBDC--a type of CBDC used by banks and financial institutions--can be used for securities settlements or large cross-border payments. The Bangko Sentral said CBDCs will allow immediate funds transfers
during off-hours and weekends. This means businesses and government agencies can make timely payments regardless of traditional banking hours, and minimize capital tied up during
non-business hours.CBDCs could, for example, be used to pay customs duties and emergency wage payments faster.&quot;During financial or operational crises, the wCBDC
system could provide an alternative settlement pathway, maintaining
liquidity flows when conventional systems might be constrained or
unavailable,&quot; the BSP added.

The Bangko Sentral is eyeing the use of wholesale central bank digital currency (wCBDC) in large international payments.

The Bangko Sentral is eyeing the use of wholesale central bank digital currency (wCBDC) in large international payments.

BSP eyes central bank digital currency for large international payments

News

Entertainment

Lifestyle

Sports

Metro.Style

More

Sudoku

Word of the Day

Lotto

Horoscope

Business

BSP eyes central bank digital currency for large international payments

Benise Balaoing,

ABS-CBN News

Published July 01, 2026 01:59 PM PHT

Read More:

BSP

central bank digital currency

CBDC

Project Agila

ABS-CBN Newsletter

Your go-to source for the latest news, entertainment highlights, exclusive interviews, and updates on your favorite Kapamilya stars.

ABS-CBN Newsletter

Your go-to source for the latest news, entertainment highlights, exclusive interviews, and updates on your favorite Kapamilya stars.

Sign Up

I have read and agree to the Terms and Privacy Policy.

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.