The Bangko Sentral ng Pilipinas' First Philippine Polymer Banknote Series Shines at Iaca Awards
Philippines' polymer banknote series obtains top accolade from IACA (International Association of Currency Affairs)
Score a win for the Philippines! The Bangko Sentral ng Pilipinas' (BSP) First Philippine Polymer Banknote Series (FPPBS) has absolutely slayed it, claiming the "Best New Banknote or Banknote Series" title at the International Association of Currency Affairs (Iaca) ceremony held in Bangkok, Thailand on June 3, 2025.
The Iaca awards are a big deal in the financial world, and this win showcases the FPPBS' advanced security features, creative design, and the incorporation of native Philippine flora and fauna. Iaca praised the new notes for strutting their innovative security and aesthetics.
"The FPPBS is a game-changer in Philippine currency security," Iaca declared, admiring the bold move towards enhanced security features. "These cutting-edge security elements are subtly woven into the overall design, ensuring striking functionality and amazing visual appeal."
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The celebration started when the BSP launched the P1,000 polymer denomination in 2022, followed by the P500, P100, and P50 denominations in December 2024. These polymer notes are currently co-circulating with traditional paper banknotes, but don't be surprised if they start to dominate the cash scene.
Mamerto Tangonan, BSP deputy governor for Payments and Currency Management, beamed with pride. "Winning this award validates our unwavering commitment to creativity and innovation in currency design, ensuring our banknotes stand tall with global standards of security and sustainability."
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Polymer banknotes have earned a reputation for being more secure and eco-friendly compared to paper money. They've built-in resistance to counterfeiting, a lower carbon footprint, and long-lasting durability - with a lifespan of two to five times longer than traditional cash.
This golden accolade isn't the FPPBS' first rodeo. In 2023, the High Security PrintingTM Asia declared the P1,000 polymer note as "Best New Banknote," while the International Banknote Society dubbed it "Banknote of the Year" in 2022. The BSP's dedicated communication campaign on the P1,000 note also won Iaca's "Best New Currency Public Engagement Program" award in 2023.
Iaca is the go-to global non-profit for excellence in the cash cycle, and the esteemed organization serves as a knowledge-sharing platform for currency industry stakeholders. To stay updated on future accolades and releases, keep your eyes peeled on BSP announcements or follow international financial news sources!
- The triumph of the Bangko Sentral ng Pilipinas' (BSP) First Philippine Polymer Banknote Series (FPPBS) at the International Association of Currency Affairs (Iaca) ceremony signifies a significant leap in environmental-science, as the new polymer notes boast a lower carbon footprint, making them more eco-friendly compared to traditional paper banknotes.
- The FPPBS has not only excelled in terms of security features and aesthetics, but also in the realm of technology, with built-in resistance to counterfeiting and long-lasting durability, lasting two to five times longer than traditional cash.
- The industry-wide recognition of the FPPBS, including the "Best New Banknote or Banknote Series" title from Iaca, underscores the importance of integrating cutting-edge technology and environmental-science in the finance and banking-and-insurance sector.
- The BSP's commitment to creativity and innovation in currency design, as demonstrated by the FPPBS, is setting a global standard for security, sustainability, and the seamless blending of science and design in the financial industry.
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