Several banks in the Philippines are working together to create a peso-backed stablecoin, PHPX, aimed at improving cross-border payments and financial inclusion. The PHPX token is scheduled to launch between May and July. The PHPX stablecoin, developed by Singapore-based startup Just Finance, will be launched on the Hedera decentralized ledger technology (DLT) network. Participating Philippine banks include UnionBank of the …
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