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Philippines launches stablecoin called PHPX?
Philippines to Launch Stablecoin Solution for Its Citizens Abroad
The Philippines will launch a stablecoin called PHPX backed by the Peso, aiming to make it easier for its citizens living abroad to send money to their families.
This was taken because the Philippines is highly dependent on incoming transactions reaching US$40 billion from abroad. In addition, this step will be an international payment tool, not just domestic.
The initiative is supported by UnionBank of the Philippines, along with other financial institutions, namely Rizal Commercial Banking, Cantilan Bank, and Rural Bank of Guinobatan. PHPX will be built on the Hedera network to conduct transactions safely and with minimal risk.
The Philippines will launch a stablecoin called PHPX backed by the Peso, aiming to make it easier for its citizens living abroad to send money to their families.
This was taken because the Philippines is highly dependent on incoming transactions reaching US$40 billion from abroad. In addition, this step will be an international payment tool, not just domestic.
The initiative is supported by UnionBank of the Philippines, along with other financial institutions, namely Rizal Commercial Banking, Cantilan Bank, and Rural Bank of Guinobatan. PHPX will be built on the Hedera network to conduct transactions safely and with minimal risk.
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📢Important news about Binance Philippines:😱😱😱😱😱😱😱
🔥Philippines orders removal of Binance from Google and Apple app stores:
🔥KEY POINTS
The Philippine Securities and Exchange Commission sent letters to Google and Apple requesting the removal of the Binance apps from their respective app stores.
The agency accused Binance of offering unregistered securities to Filipinos and operating as an unregistered broker.
The regulator said blocking Binance from app stores would help “prevent the further proliferation of its illegal activities in the country.”#BinanceLaunchpool#bitcoinhalving #Megadrop#BullorBear #Token2049
$ETH #BITCOIN #Binance #filipinas
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