Techub News reports, according to Ledger Insights, the Bangko Sentral ng Pilipinas (BSP) has announced that it has completed its Project Agila wholesale central bank digital currency (wCBDC) proof of concept trial with participating financial institutions. Specifically, the latest trial tested whether banks in the Philippines can make payments to each other outside of banking hours, such as at night, on weekends, and during holidays. BSP Governor Eli M. Remolona, Jr. stated: "Wholesale CBDC is expected to enhance liquidity management, reduce settlement risks, and support financial stability."