Latest Philippine News

  • Philippine central bank embraces digital tokens
    Philippine central bank embraces digital tokens
    The Philippines is really interested. The Philippine central bank sees digital tokens as a means to reduce the use of fiat money and improve the delivery of financial services in the country, even as the country is still studying its own digital currency. Speaking to Bloomberg, Philippine central bank Bangko Sentral ng Pilipinas, or BSP, governor Benjamin Diokno said digital tokens “expand reach and lessen costs of financial services” as well as reduce the use of fiat money. Diokno said digital tokens improve how the central bank provides financial services to citizens. The Philippines is one of the country’s studying the launch of its own digital currency.
  • Google Pulls Work from BPO Whose Employees Was Involved in Bitcoin Scam
    Google Pulls Work from BPO Whose Employees Was Involved in Bitcoin Scam
    Don’t use your workplace to scam people. Google pulled outsourced work from a Philippine contact center whose employees were involved in a Bitcoin scam.  According to Newsbytes.PH, Google confirmed the company shifted some work it outsourced to a Sykes Philippines branch in Cebu City to another vendor in the country.  In the Philippines, social media posts alleged some employees of outsourcing firms siphoned around 60 million Philippine pesos ($1.23 million) of Google gift cards and converted these into Bitcoins.
  • Philippines Central Bank Becomes the Latest to Consider Issuing a CBDC
    Philippines Central Bank Becomes the Latest to Consider Issuing a CBDC
    The Philippine central bank has confirmed in a virtual briefing that it has formed a committee to look into issuing a digital currency. The Philippines has become the latest country to look at the possibility of releasing its own central bank digital currency, or CBDC. According to a report by Bloomberg, July 29, the Philippine central bank, or Bangko Sentral ng Pilipinas, or BSP as it is known locally, has formed a committee to consider the implication of such a move. In a virtual briefing, Governor Mark Diokno explained that the group was initially just looking at the feasibility and potential policy implications of issuing a digital currency. “We have to first look at the findings of the group before making a decision.” The first results of the committee’s investigation are expected in August.
  • Philippines Now Has 16 Cryptocurrency Exchanges Approved by Central Bank
    Philippines Now Has 16 Cryptocurrency Exchanges Approved by Central Bank
    The number of regulated cryptocurrency exchanges in the Philippines has grown to 16, according to Bangko Sentral ng Pilipinas, the country’s central bank.