Philippines considers using digital currency in government bond sales

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According to Bloomberg, the Philippine Department of Finance is seeking to cooperate with the country’s central bank (Bangko Sentral, referred to as BSP) to expand the use of digital currencies to the sale of government securities to explore the advantages of blockchain technology. Deputy Finance Minister Erwin Sta. Ana said: “We are testing the capabilities of DLT and we are looking to cooperate with Bangko Sentral on its central bank digital currency initiative. There is room for integration between our DLT registry and the BSP’s CBDC.”

Future sales of Philippine tokenized government bonds may involve longer maturities. Sta. Ana said. "When securities are first introduced, short-term investments are generally chosen. As the market matures and the technology matures, we can explore the belly of the curve and then explore longer maturities." Sta. Ana also said that Manila is also looking to expand brokerage The scope of sales of monetized bonds will include retail investors.

Prior to yesterday’s news, the Philippines issued $270 million in tokenized bonds for the first time .

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