[Several banks in the Philippines cooperate to launch PHPX stablecoin on Hedera] Golden Finance reported that several banks in the Philippines are cooperating to create a peso-backed stablecoin PHPX, aimed at improving cross-border payments and financial inclusion. The PHPX token is scheduled to be launched between May and July. The PHPX stablecoin developed by Singapore startup Just Finance will be launched on the Hedera decentralized ledger technology (DLT) network. According to a report by Ledger Insights, participating Philippine banks include the United Bank of the Philippines, Rizal Commercial Bank, Cantilan Bank, and Guinobatan Rural Bank. All participants will play an important role in the governance of the PHPX stablecoin.