Philippines: Adopted BSP approval for Coins.ph PHPC stablecoin pilot
Description
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…
Scope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central bank