{
  "title": "Philippines: Technical Assistance Report - Stakeholder Engagement and Roadmap for Wholesale Central Bank Digital Currency",
  "publication": "Technical Assistance Reports, June 5, 2026",
  "sourceUrl": "https://www.imf.org/en/publications/technical-assistance-reports/issues/2026/06/05/philippines-technical-assistance-report-stakeholder-engagement-and-roadmap-for-wholesale-576414",
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  "summary": "The IMF conducted a technical assistance (TA) mission to the BSP to explore potential use cases of a wholesale Central Bank Digital Currency (wCBDC) in addressing challenges within the Philippines’ wholesale payment landscape.",
  "sections": [
    {
      "heading": "Mission objective and scope",
      "content": "- The IMF conducted a technical assistance (TA) mission to the BSP to explore potential use cases of a wholesale Central Bank Digital Currency (wCBDC) in addressing challenges within the Philippines’ wholesale payment landscape.\n- The mission facilitated stakeholder engagement and developed a preliminary roadmap for wCBDC exploration."
    },
    {
      "heading": "Key findings from stakeholder engagement",
      "content": "- Identified inefficiencies in securities settlement as an exploratory area for potential wCBDC use cases.\n- Identified inefficiencies in cross-border payments as an exploratory area for potential wCBDC use cases.\n- Building on identified use cases, the mission facilitated development of a preliminary roadmap for wCBDC exploration."
    },
    {
      "heading": "Recommendations to support BSP’s wCBDC roadmap",
      "content": "- Allocate project management resources effectively.\n- Identify and analyze economic impact of wCBDC.\n- Engage stakeholders continuously.\n- Establish a robust legal framework for wCBDC experimentation and potential issuance."
    },
    {
      "heading": "Expected policy objectives and system impacts",
      "content": "- Ensure the BSP’s wCBDC roadmap can effectively address challenges in the financial system.\n- Promote economic development through targeted wCBDC use cases addressing securities settlement and cross-border payments."
    },
    {
      "heading": "Publication metadata and identifiers",
      "content": "- Publication date: June 5, 2026\n- Pages: 46\n- Volume: 2026\n- Issue: 046\n- Series: Technical Assistance Report No. 2026/046\n- DOI: https://doi.org/10.5089/9798229048484.019\n- Stock No: TAREA2026046\n- ISBN: 9798229048484\n- ISSN: 3005-4575\n- Subjects: Bonds, Capital markets, Financial institutions, Financial markets, Payment systems, Sovereign bonds, Technology\n- Keywords: Asia and Pacific, Bonds, Capital markets, central bank digital currency (CBDC), cross-border payments, funding program, Global, IMF publication, JSA Central Bank Digital Currency, Monetary and Capital Markets, payment, Payment systems, South Asia, Southeast Asia, Sovereign bonds, stakeholder engagement, technical assistance provider, tokenization, tokenized bonds, wholesale CBDC\n\nInternational Monetary Fund. Philippines: Technical Assistance Report - Stakeholder Engagement and Roadmap for Wholesale Central Bank Digital Currency, Technical Assistance Reports 2026, 046 (2026).\n\n---\n\n Content in this bundle\n\n- Preface\n  - Preface (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Preface (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/technical-assistance-reports/issues/2026/06/05/philippines-technical-assistance-report-stakeholder-engagement-and-roadmap-for-wholesale-576414"
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    "Published: June 5, 2026",
    "Series: Technical Assistance Reports",
    "DOI: https://doi.org/10.5089/9798229048484.019",
    "The IMF conducted a technical assistance (TA) mission to the BSP to explore potential use cases of a wholesale Central Bank Digital Currency (wCBDC) in addressing challenges within the Philippines’ wholesale payment landscape.",
    "The mission facilitated stakeholder engagement and developed a preliminary roadmap for wCBDC exploration.",
    "Identified inefficiencies in securities settlement as an exploratory area for potential wCBDC use cases.",
    "Identified inefficiencies in cross-border payments as an exploratory area for potential wCBDC use cases.",
    "Building on identified use cases, the mission facilitated development of a preliminary roadmap for wCBDC exploration.",
    "Allocate project management resources effectively.",
    "Identify and analyze economic impact of wCBDC.",
    "Engage stakeholders continuously.",
    "Establish a robust legal framework for wCBDC experimentation and potential issuance.",
    "Ensure the BSP’s wCBDC roadmap can effectively address challenges in the financial system.",
    "Promote economic development through targeted wCBDC use cases addressing securities settlement and cross-border payments.",
    "Publication date: June 5, 2026",
    "Pages: 46",
    "Volume: 2026",
    "Issue: 046",
    "Series: Technical Assistance Report No. 2026/046",
    "DOI: https://doi.org/10.5089/9798229048484.019",
    "Stock No: TAREA2026046",
    "ISBN: 9798229048484",
    "ISSN: 3005-4575",
    "Subjects: Bonds, Capital markets, Financial institutions, Financial markets, Payment systems, Sovereign bonds, Technology",
    "Keywords: Asia and Pacific, Bonds, Capital markets, central bank digital currency (CBDC), cross-border payments, funding program, Global, IMF publication, JSA Central Bank Digital Currency, Monetary and Capital Markets, payment, Payment systems, South Asia, Southeast Asia, Sovereign bonds, stakeholder engagement, technical assistance provider, tokenization, tokenized bonds, wholesale CBDC",
    "**Preface**"
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