Philippines: BSP approval process for Coins.ph PHPC stablecoin pilot
Progress
Current status
adopted
09 May 2024 adopted
Scope
Implementers
Philippines
Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
central bank
Implementation Level
national
Timeline of events
Adopted BSP approval for Coins.ph PHPC stablecoin pilot
On 9 May 2024, the Bangko Sentral ng Pilipinas (BSP) approved Coins.ph to pilot the Philippine peso-backed PHPC stablecoin under its regulatory sandbox framework. The approval applies to stablecoin issuance and testing within the Philippines. It all…
SourceEvent type
order
Action type
adoption
Government branch
executive
Government body
central bank