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The Bureau of the Treasury in the Philippines is considering a collaboration with the central bank to extend the use of digital currency to the sale of government securities.<\/p>\n
The Treasury is exploring the benefits of blockchain technology after successfully raising<\/a> 15 billion pesos ($271 million) through its inaugural tokenized Treasury bonds utilizing the Distributed Ledger Technology Registry.<\/p>\n <\/p>\n The Bangko Sentral ng Pilipinas has been conducting experiments with central bank digital currency (CBDC) for significant financial transactions, aiming to assess the technology\u2019s advantages, risks, and policy implications.<\/p>\n However, the current distributed ledger technology (DLT) registry, responsible for indicating the securities\u2019 registration location, only covers half of the bond sale process. In an interview with Bloomberg on Monday, Deputy Treasurer Erwin Sta. Ana said:<\/p>\n \u201cWe\u2019re testing the capability of the DLT. We are looking to collaborate with the Bangko Sentral in their central bank digital coin program. There\u2019s room for integration between our DLT Registry and the BSP\u2019s CBDC\u201d.<\/p>\n <\/p>\n<\/blockquote>\n Tokenization is an emerging sector garnering increased attention from various governments and companies<\/a>. In February, Hong Kong achieved a milestone by selling HK$800 million ($103 million) in inaugural digital green bonds through Goldman Sachs\u2019 GS DAP platform, thus marking the world\u2019s first tokenized green bond issued by a government.<\/p>\n Also, as per Citigroup\u2019s estimates, the tokenization market has the potential to reach $5 trillion by 2030, encompassing various assets such as bonds, property, and private equity.<\/p>\nLeveraging CBDC For Selling Sovereign Bonds<\/h3>\n
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Leveraging the Tokenization Trend<\/h3>\n