Award-winning BSP coin machines process over P700M in less than a year

The Bangko Sentral ng Pilipinas (BSP) has processed over P700 million in coins through its Coin Deposit Machines (CoDM) in less than a year, earning the “2024 Excellence in Currency Technical Award” from the International Association of Currency Affairs.

Launched on June 20, 2023, the CoDM project has seen over 194 million coins deposited from 174,000 transactions, the central bank said in a statement.

With 25 machines installed in retail locations across Greater Manila, the initiative enhances coin recirculation, improves cash cycle efficiency, and ensures currency security.

BSP Deputy Director Jann Ryan D. Jose received the award in Texas, USA, on May 15, 2024.