THE BANGKO SENTRAL ng Pilipinas (BSP) has completed the testing phase for Project Agila, its pilot project for a central bank digital currency (CBDC).
In a statement on Thursday, the BSP said it concluded the testing for Project Aguila, along with other participating financial institutions.
“Wholesale CBDCs are expected to enhance liquidity management, reduce settlement risks, and support financial stability,” BSP Governor Eli M. Remolona, Jr. said.
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