Philippine Stock Exchange to Offer Crypto Trading
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5 July
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The Philippine Stock Exchange (PSE) has plans to offer crypto-related services. The site's president and CEO Ramón Monzón said in a conversation with CNN Philippines:

"If there should be any exchange for cryptos, it should be done at the PSE. Why? Number one, it's because we have the trading infrastructure. But more important, we'll be able to have investor protection safeguards especially with a product like crypto."

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According to Monzón, the site's management team first discussed the idea of creating a national Bitcoin exchange two weeks ago. He has pointed out the Philippines can no longer ignore cryptocurrencies due to the growing demand from investors:

"So a lot of people are attracted to [cryptocurrencies] because of the volatility. Instant riches could be instant poverty too... If there's going to be any structured trading of crypto in the Philippines, it should be under our watch."

Monzón has stressed that the PSE cannot offer such services now, as local financial regulators have yet to formulate the relevant regulatory requirements.

In 2019, the Philippine Securities and Exchange Commission solicited comments from banks, investors and the public on the country's readiness to launch a crypto exchange.

In July 2020, the Central Bank of the Philippines (BSP) started exploring the possibility of issuing a CBDC.

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