Manila, Oct. 22 -- A central bank digital currency (CBDC) will not materialize in the Philippines within the term of Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno, which is until 2023.
"I don't think so. Most central banks said they will not issue CBDC within the next five years. So not within my term," Diokno said in a virtual media briefing Thursday.
Diokno said the BSP recently completed its exploratory study on CBDC, which looked into the basic concepts and fundamental issues, possible implications and potential risks on monetary policy; financial supervision, payments, and settlements; financial inclusion, legislation, and regulations; and experiences of other central banks.
Central banks around the world are now lookin...