In remarks at the 4th ASEAN+3 Economic Cooperation and Financial Stability Forum (AMRO Forum) in Hong Kong on 25 November 2025, the Central Bank of the Philippines set out its focus on capital market development and cross-border payments, including efforts to deepen the domestic money market and introduce more market-oriented operations. Deputy Governor Zeno Ronald R. Abenoja linked the work on money markets to improving liquidity, strengthening monetary policy transmission, and supporting the Philippines’ integration into regional and global financial markets, while also positioning these steps as safeguards amid global uncertainties and accelerating digital transformation. On cross-border payments, he pointed to tokenization and stablecoin technology as potential enablers of faster, cheaper, and more accessible digital retail payments and remittances. Abenoja also represented the central bank at the ASEAN+3 Finance and Central Bank Deputies’ Meeting in Hong Kong from 26 to 27 November 2025, with the Philippines set to co-chair the ASEAN+3 Finance Process with Japan in 2026.
Central Bank of the Philippines 2025-12-18
Central Bank of the Philippines highlights work to deepen money markets and use tokenization for cross-border payments
At the 4th ASEAN+3 Economic Cooperation and Financial Stability Forum in Hong Kong, the Central Bank of the Philippines emphasized capital market development and cross-border payments, focusing on deepening the domestic money market and enhancing market-oriented operations. Deputy Governor Zeno Ronald R. Abenoja highlighted efforts to improve liquidity, strengthen monetary policy transmission, and leverage tokenization and stablecoin technology for digital payments. Abenoja also participated in the ASEAN+3 Finance and Central Bank Deputies’ Meeting, with the Philippines set to co-chair the ASEAN+3 Finance Process with Japan in 2026.