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Philippine Central Bank Warms Up to Digital Money to Aid Fintech

Benjamin Diokno

Benjamin Diokno

Photographer: Geric Cruz/Bloomberg

Philippine central bank Governor Benjamin Diokno said the technology behind digital tokens could improve delivery of financial services, as the regulator proceeds to study the feasibility of its own digital currency.

Digital tokens expand reach and lessen costs of financial services, Diokno said in an emailed reply to Bloomberg late Thursday. It could also help the central bank eventually reduce the use of fiat money, he said.