Philippines, Vietnam study feasibility of central bank digital currencies

An Alipay logo is seen at a cashier in Shanghai January 12, 2017. REUTERS/Ali Song/Files

The Philippines and Vietnam will start feasibility studies as soon as this month on issuing central bank digital currencies (CBDCs) as Chinese payment apps penetrate Southeast Asia.

The spread of Alipay, WeChat Pay and similar apps has raised monetary authorities’ interest in CBDCs. The two platforms are banned in Vietnam, but the number of users continues to grow in that country.

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