The Bangko Sentral ng Pilipinas (BSP) bags the ‘Best Recirculation/ Distribution Initiative or Innovation’ award from the International Association of Currency Affairs (IACA) for its rollout of coin deposit machines (CoDMs) across Metro Manila. According to IACA, the CODM project’s aim to entice Filipinos to empty their coin jars for e-wallet credits and shopping vouchers exemplifies BSP’s ‘forward-thinking approach toward a more efficient and sustainable Philippine coin cycle’.