Philippine Central Bank Outlines Wholesale CBDC Use Cases for Securities Settlement and Cross-Border Payments

According to the Philippine central bank (BSP), on July 2, the bank outlined potential use cases for wholesale CBDCs (wCBDC) including securities settlement and large-value cross-border payments in its "Project Agila" report. The wCBDC, used by commercial banks and financial institutions through distributed ledger technology, enables instant point-to-point settlement with higher automation, faster processing speed, and lower transaction costs compared to existing RTGS systems. The BSP noted that applying wCBDC to securities trading settlement could reduce the time gap from execution to final settlement and lower settlement risk.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments