Central Bank of the Philippines is exploring the possibility of launching a national cryptoasset

The main financial regulator of the Philippines is studying the possibility of launching a national crypto-asset, writes Bloomberg. The head of the regulator, Benjamin Diokno, said that the distributed ledger technology, on the basis of which new assets are built, will help improve the mechanisms for providing financial services to the population and reduce the issue of banknotes.

At the moment, specialists from the leading departments are engaged in a comprehensive analysis of legal aspects, price stability, the local digital token market and the financial system as a whole. Also, according to Benjamin Diokno, despite the fact that officially cooperation in the development of a national crypto asset has not yet been concluded with anyone, the central bank is actively working to exchange knowledge in this area with potential partners.

We add that at the moment there are 16 licensed digital currency exchange offices in the country.