Philippines Central Bank Governor: No Digital Peso Before 2023
The central bank won’t pursue a CBDC for the duration of Governor Benjamin Diokno's term, which ends in 2023.
The new platform was announced as part of the BIS Innovation Hub's priorities and programs for 2021.
Central banks meeting in Russia said the coronavirus pandemic is a driving force behind growing interest in national digital currencies.
The window of opportunity for investors to cash out to fiat is expected to be between three and six months.
BIS is planning a proof-of-concept trial of a CBDC in collaboration with the Swiss central bank.
The Bank of Russia might launch its own CBDC, a digital ruble, after piloting the project at the end of next year, its chairwoman said.