CoinVoice has recently learned that the Central Bank of the Philippines has approved a stablecoin PHPC pegged to the Philippine peso. The move is aimed at promoting cost-effective remittances, backed by cash and equivalents from Philippine banks. It will initially be launched on the Coins.ph platform and plans to expand to other platforms.
It is understood that PHPC will be the first stablecoin backed by the peso and aimed at retail investors, providing real-time transactions around the clock. [Original link]