A new blockchain-enabled mobile application by Philippine Bureau of the Treasury in partnership with the UnionBank and Philippine Digital Asset Exchange was released, on July 19, to circulate the treasury bonds issued by the government.

The local news outlet of Philippine, Inquirer.Net, in its report, has <a href="https://business.inquirer.net/303055/philippine-treasury-is-asia-pioneer-in-leveraging-distributed-ledger-technology-blockchain-for-treasury-bonds" target="_blank" rel="noopener">mentioned</a> that according to CEO of UnionBank, Edwin R. Bautista, it would be the first retail treasury bond in Asia which will be issued via blockchain technology.
<h2>Citizens Can Use Bonds.PH</h2>
A report published earlier states that around 77 percent of adult citizens in the Philippines do not have a bank account.

The newly launched mobile application called Bonds.PH would help these kinds of citizens to provide them with an easy investment option.

While sharing her views on the latest mobile application, the National Treasurer of the Philippines, Rosalia V. De Leon, said, “The launch of Bonds.PH paves the way for all Filipinos, particularly the unbanked, to easily and affordably invest in the BTr’s newest retail treasury bond, RTB-24”.
<h2>Customers Can Use Online Banking Options</h2>
It has been announced that with the help of Bond.PH application, the citizens could easily invest in retail treasury bonds and while doing so, they would have to pay just 5,000 Philippine pesos.

The consumers using the app could also pay via InstaPay, GCash and Payamaya. The application users are even allowed to pay via internet banking or over-the-counter payment.

According to the Bureau of Treasury, the new app would be used along with the DLT technology to reduce the cost and time, while the manual verification and settlement are being done.

In July 2019, a payment focused stablecoin was introduced by the UnionBank and that token was being supported by Philippine peso. The UnionBank did this to stimulate financial inclusion in the country at a greater level.

In April 2020, the CEO stated that due to the COVID pandemic the demand for banks to opt for digital currency has increased.

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Philippines Introduces Bonds.PH To Issue Government Bonds

A new blockchain-enabled mobile application Bonds.PH was released, on July 19, to circulate the treasury bonds issued by the government.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Philippines Introduces Bonds.PH To Issue Government Bonds

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