The Philippine central bank has completed the trials of the wholesale central bank digital currency (CBDC) concept, Project Agila, designed for 24/7 transfers between financial institutions. Using distributed ledger technology on the Oracle platform, the system will enable transfers at any time, including weekends and holidays. The project aims to improve interbank payments, enhance liquidity, and reduce settlement risks. The results of the trials will be used to develop the future CBDC strategy in the country.
12/5/2024 2:15:36 PM (GMT+1)
The Philippine central bank has completed the trials of the wholesale central bank digital currency Project Agila for 24/7 interbank transfers using distributed ledger technology 💰🔗
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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