BitSpark Will Launch Philippine Peso Stablecoin

BitSpark, a "bankless money transfer" service is reportedly going to launch a Philippine Peso or PHP-backed stable coin called peg.PHP.

First reported by CoinTelegraph, the stablecoin peg.PHP is pegged to the Philippine Peso, or 1 peg.PHP is equals to Php 1. The first to utilize peg.PHP is Okra Solar, an Internet-of-Things (IoT) company that provides remote communities with access to cheaper electricity via solar energy. In the original report, customers will be able to pay their electricity bills using peg.PHP.

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