The Philippines will have two new currencies in circulation

The BSP approved the use as a method of payment to exchangers Philippines, Inc. and ETranss

On Monday, the Central Bank of the Philippines (BSP) approved the inclusion of two new currencies that will immediately begin operating within the nation.

The exchangers that will benefit from this will be Philippines, Inc. and ETranss, already added to Rebbitance, Inc. Betur, Inc. and BloomSolutions.

The BSP took the opportunity to ensure that the use of digital currency brings potential benefits in terms of the effectiveness and speed of banking transactions. Despite this, he indicated that they should operate with caution due to the risks that this may entail.

In recent years, the weight of digital currencies have been in constant growth, reaching the point of appraising about 36 million dollars in registered exchangers.

Since a year ago, the Philippines approved the operation with cryptocurrencies, when the BSP recognized bitcoin as a legitimate method of buying and selling.

K. Tovar

Source: Cointelegraph

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