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Philippine Banks to Launch PHPX Stablecoin

  • Several banks in the Philippines are planning to launch a new stablecoin called PHPX on Hedera blockchain.
  • The stablecoin aims to improve cross-border payments and remittances.
  • It will be exchanged for other stablecoins like USD, SGD, and JPY, and will require liquidity providers.
  • The PHPX stablecoin will also facilitate faster and cheaper remittances for Filipinos.

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