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The post <a href="https://coinpedia.org/news/philippines-explores-digital-currency-for-sovereign-bond-sales-using-blockchain/">Philippines Joins the Race; Plans To Issue First-Ever Digital Treasury Bonds</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The Philippines’ Bureau of the Treasury is actively considering a strategic collaboration with the country’s central bank to introduce digital currency in the sale of government securities, embracing the potential advantages offered by <a href="https://coinpedia.org/information/art-of-blockchain-security-protecting-your-assets-in-crypto-world/">blockchain technology</a>. 
In a recent milestone, the Southeast Asian nation successfully raised an impressive 15 billion pesos ($271 million) through its first-ever sale of digital Treasury bonds. This achievement was made possible by using blockchain-based Distributed Ledger Technology (DLT) Registry. 
<h2 class="wp-block-heading" id="h-exploration-of-cbdc-for-sovereign-bond-sales">Exploration of CBDC for Sovereign Bond Sales</h2> 
The Bangko Sentral ng Pilipinas has been actively trying out <a href="https://coinpedia.org/glossary/cbdc/">central bank digital currency (CBDC)</a>, exploring its potential for big financial transactions. They’re carefully looking at the benefits, risks, and overall impact on policies. 
Despite the progress of the current DLT registry, which shows where securities are registered, it only covers half of the bond sale process. Deputy Treasurer Erwin Sta. Ana talked about it in an interview. 
<blockquote class="wp-block-quote"> 
 “We’re testing the capability of the DLT. We are looking to collaborate with the Bangko Sentral in their central bank digital coin program. There’s room for integration between our DLT Registry and the BSP’s CBDC.” 
</blockquote> 
<h2 class="wp-block-heading" id="h-the-world-is-watching">The World is Watching </h2> 
<a href="https://coinpedia.org/news/federal-reserves-eye-opening-report-on-tokenization-is-it-good-for-crypto/">Tokenization</a> is becoming a big deal, grabbing the interest of governments and companies. Hong Kong recently sold HK$800 million ($103 million) in digital green bonds through Goldman Sachs’ GS DAP platform, a world-first for a government. 
Earlier, Citigroup has estimated the tokenization market could reach $5 trillion by 2030, covering assets such as bonds, property, and private equity. 
Deputy Treasurer Sta. Ana hinted at future plans, suggesting that upcoming sales of <a href="https://coinpedia.org/news/breaking-philippines-securities-regulator-wants-public-opinions-to-draft-the-countrys-crypto-law/">Philippine</a> digital Treasury bonds might involve larger amounts. As technology and the market progress, there are plans to explore longer tenors. This successful digital bond issuance is expected to inspire more companies, following the example set by the Union Bank of the Philippines last year. 
Philippine Innovation 
This bold move not only shows the Philippines’ commitment to new technology but also puts the nation at the forefront of the global trend towards digital innovation in finance. It’s a significant step towards the future of finance, setting an example for other nations navigating the changing landscape of digital economies.

Philippines Joins the Race; Plans To Issue First-Ever Digital Treasury Bonds

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