UnionBank Partners with Polygon to Launch Philippines' First CBDC Pilot

In a landmark collaboration, UnionBank of the Philippines and Polygon Labs are launching a central bank digital currency pilot program.

March 28, 20261,654 views

Philippines Enters the CBDC Era

UnionBank of the Philippines has announced a groundbreaking partnership with Polygon Labs to develop and test a Central Bank Digital Currency (CBDC) pilot program in coordination with the Bangko Sentral ng Pilipinas.

The pilot, dubbed "Project Agila" after the Philippine Eagle, will test the feasibility of a digital peso for both retail and wholesale use cases.

Technical Architecture

The CBDC will be built on a permissioned version of the Polygon blockchain, chosen for its high throughput, low transaction costs, and proven enterprise adoption. The system will be capable of processing over 10,000 transactions per second — far exceeding the current capacity of traditional banking infrastructure.

Tags:Local NewsPhilippinesBlockchain

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