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2024-05-13 01:20:52

Philippine Central Bank Approves Peso-Pegged Stablecoin for Faster Remittances

The Bangko Sentral ng Pilipinas, the central bank of the Philippines, has approved PHPC, a stablecoin pegged to the Philippine peso, aimed at facilitating cost-effective remittances. Crypto exchange, the stablecoin issuer, plans to attract 20,000 to 30,000 users in the first month. The PHPC will be the first peso-backed stablecoin available for retail use,

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