![Philippines begins Peso-backed stablecoin sandbox testing](https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMDUvZjUxNjVhZGItY2M4MS00OTg5LWJkN2YtYjA1MDQ3Y2MwMDJmLmpwZw==.jpg)
Philippines begins Peso-backed stablecoin sandbox testing
CointelegraphThe test aims to evaluate the PHPC stablecoin’s real-world performance, its impact on the local fiat ecosystem, and its potential uses, including payments, trading and DeFi applications.