The International Monetary Fund will collaborate with the Philippines to create a CBDC

ChainCatcher news, the International Monetary Fund (IMF) announced plans to collaborate with the Bangko Sentral ng Pilipinas (BSP) to create a central bank digital currency (CBDC).

The International Monetary Fund stated that its role will be to advise the country's central bank on the technical details involved in creating the CBDC. In addition to providing technical assistance, the IMF also noted that it will participate in training BSP staff on digital currency applications. (CoinGeek)