In addition, another thirteen (13) are able to receive payments. By the middle of this year — in a few months — we expect more financial institutions to participate in InstaPay. In parallel, the BSP is engaging the private sector and the government to encourage their adoption of InstaPay and PESONet to meet their payment system requirements. We now have critical mass.
What didn’t surprise me is that many of those who said they owned crypto-assets also said they had lost money, and they weren’t very happy about that. It was a reminder for me that crypto-assets aren’t just held by people with ample money for speculation.