The Philippine central bank has approved the PHPC, a stablecoin pegged to the peso
The Central Bank of the Philippines has approved a stablecoin called PHPC, which is pegged to the Philippine peso and aims to promote cost-effective remittances. It is backed by cash and equivalents held by Philippine banks and will initially be launched on the Coins.ph platform, with plans to expand to other platforms. PHPC will be the first retail stablecoin backed by the peso and will offer real-time trading 24/7.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Jupiter opens community vote on fate of 215M unclaimed JUP tokens
US Puts $10 Million Bounty on Two Russian Citizens Accused of Cryptocurrency Laundering! Here Are the Details
The United States has accused two Russian citizens of operating a global money laundering and sanctions evasion network using cryptocurrencies.
JUST IN: SEC Sues Altcoin and Cryptocurrency Company – Claims It’s a Security
How USDT Outpaces Competitors in the Stablecoin Race
Trending news
MoreCrypto prices
More
