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Ify Egede
Jun 8, 2022
by Ify Egede

Binance To Bring Web3 Development To The Philippines

Binance Philippines

Table of contents

  1. Binance To Enter Philippines With Web3 Development
  2. Philippines Central Bank Begin CDBC Pilot Project
Changpeng Zhao, CEO of Binance, has confirmed in a tweet that the firm wants to enter the Philippines. The crypto exchange Binance has grown globally over the years. Additionally, it has listed several tokens on its platform to meet clients' needs. The crypto firm is available in about 180 counties. However, the firm continues to pursue expansion into new regions. The latest country on its list is the Philippines.

Binance To Enter Philippines With Web3 Development

Presently, the crypto firm is eyeing the Philippines. According to Zhao, the nation is "super important". He added,

"The Philippines is advanced in terms of tech talents, payment services, mobile penetration and has a good understanding of cryptocurrency."

Furthermore, Binance's CEO added that the environment encourages innovation and fast development. The CEO plans to enter the Asian market by introducing blockchain development. Zhao also noted that the issue of regulation would not be a hindrance. The company is willing to work with regulators to shape best regulatory practices. Also, the crypto entrepreneur believes that securing a license will increase his chances of success.

Philippines Central Bank Begin CDBC Pilot Project

Last month, the Philippines Central Bank noted that it would launch a pilot project for CBDC. The pilot project aims to increase the payment systems available in the country. Moreover, Benjamin Dionko, Governor of the central bank, noted that the bank would issue wholesale CBDCs soon. According to Dionko, the trial will assess the usage of CBDCs for financial transactions. In addition, the central bank will use certain financial institutions for the pilot program.

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Binance Web 3.0 Changpeng CZ Zhao Binance launches in Philippines
Binance To Bring Web3 Development To The Philippines
Ify Egede
Ify is an experienced and versatile writer and researcher. He has have keen interest in blockchain technology, Bitcoin, cryptocurrencies, fintech and emerging technologies. He has tons of published works both online and in the print media. He has close to a decade of writing experience. When he is not writing, he spends time with his lovely wife and kids.

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