While this project is not yet operational, the BSP is using its blueprint as a guide in designing cross-border arrangements to support bilateral and multilateral platforms in the future. Lastly, the BSP is supporting legislative reforms that complement the financial digitalization agenda.
Money, which constitutes the basic infrastructure for financial activities, physically symbolizes information pertaining to value in the form of metal or paper by using relevant technologies, thereby enabling the exchange and preservation of value. Moreover, money attaches information on “price,” which is based on a widely-shared common “scale,” to various goods and services.