BSP completes wholesale CBDC proof-of-concept tests
Central bank names off-hours interbank payments as potential use case
The Central Bank of the Philippines (BSP) has completed the testing of a proof of concept for its wholesale digital currency project, named Project Agila.
In a statement today (December 5), the bank said it had conducted experiments with participating financial institutions focusing on interbank payments. However, it did not publish any findings or say whether it would release the results at a later date.
The BSP said the experiment covered “functional, performance, security, exploratory, end-to
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