BSP igazgató: A Stablecoins hatékonyabbá teheti a fizetéseket

Vágó: Nathaniel Cajuday

The central bank sees stablecoins as a plausible solution for more efficient payment transactions in the country, according to Director Mhel Plabasan of the Bangko Sentral ng Pilipinas (BSP).

Speaking during a panel discussion at Forkast-é “Crypto Rising: CBDCs & Stablecoins: The Asia Perspective” livestream, Plabasan noted that they are integrating a flexible approach to the said coin after they finished testing the use of stablecoins as a mode of payment.

„Láttuk, hogy valóban forradalmasíthatja mind a belföldi, mind a határokon átnyúló fizetést megfizethetőbben, gyorsabban, és még a stabil érméket is felhasználhatja a határokon átnyúló átutalások hatékonyabbá tételére” Plabasan said.

Stablecoins are a type of cryptocurrency that is pegged with fiat, or can also be gold, at a 1:1 ratio. It is categorized into three: fiat-backed, crypto-backed and algorithmic.

Last month, Cebu City Vice Mayor Raymond Alvin Garcia revealed that the city, in collaboration with C Pass Inc., has been developing C-Peso, a stablecoin aiming to be a way to promote cashless payments in the city. According to him, the coin has lépett the third stage of the registration process for Virtuális eszköz szolgáltatók. (Olvass tovább: A C-Pass Inc egyetértési megállapodást írt alá Cebu Cityben a kriptoérme C-peso szemmel való használatáról)

Egy közelmúltbeli index report from Chainalysis, the Philippines ranked 2nd, just 0.25 points behind Vietnam, in crypto adoption among the 154 countries surveyed by measuring their key trading metrics through centralized exchanges, DeFi protocols, and peer-to-peer trading volume. (Read more: A PH a 2. helyen áll a Chainalysis Crypto Adoption Reportban)

While as per the first quarter report of 2022 of crypto wallet Metamask, the Philippines also has the third highest number–3.57 million– of wallet users. (Read more: Fülöp-szigetek a harmadik helyen áll a legtöbb MetaMask-felhasználó számában 2 első negyedévében)

However, despite all this rapid adoption of cryptocurrency and the technology behind it, there are still no clear laws addressing some of its loopholes that may be exploited by scammers and digital thieves. In fact, the Banko Sentral ng Pilipinas (BSP) és a Értékpapír- és tőzsdei bizottság (SEC) are both requesting legislation to create definite rules and regulations on digital assets and the digital space.

Opposed to the current view of the BSP, Governor Felipe Medalla disregarded cryptocurrency last June, saying that he’s not keen on regulating it and dubbed it as based on the “greater fool theory.” (Read more: A BSP új kormányzója elutasítja a kriptográfiai adatokat, nem szereti a szabályozást)

On the other hand, because stablecoins are now seen by the central bank as a sustainable payment method, an éves gazdasági jelentését from the Bank for International Settlements (BIS) showed that the central bank digital currency (CBDC), and not cryptocurrency, is the future of the world’s monetary systems.

Fortunately, the BSP has already slated its own CBDC. In May, the central bank started onboarding several banks and financial institutions for the pilot testing of the CBDC by the last quarter of the year. 

The launch of the CBDC was announced tavaly márciusban and it will pursue the pilot project of a nagykereskedelmi CBDC as part of its aim to promote the stability of the country’s payment system. (Read more: A BSP CBDC digitális valuta kezdeményezést 4 negyedik negyedévére tervezik)

Moreover, just this month, the central bank and the Monetary Board (MB), BSP’s policy-making body, approved the Test and Learn Framework, or the Regulatory Sandbox. 

It will allow the central bank-regulated institutions to test and offer some innovative products in a controlled environment. (Read more: Bangko Sentral OKs szabályozási homokozó bankok számára)

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