“The COVID 19 pandemic will bring an end to cash and accelerate the introduction of digital banking services, including central bank crypto currencies,” said Edwin Bautista, CEO of UnionBank. In the Philippines in particular, the pandemic poses challenges for people to deliver banknotes and distribute them to islands and ATMs. The most sensible option is to rely on digitalization of the financial system until people start using digital money in their everyday lives. Union Bank’s CEO believes that banks will eventually be forced to test and issue digital cash and perhaps even cryptos. Union Bank is already one of the most digitally advanced banks in the region. The bank is introducing several external control systems for the digital system and is requiring all staff not working on the front lines to work from home. An increase in cash is clearly visible, but it is not yet clear whether it represents a real risk. The Monetary Authority of Singapore (MAS) in Singapore, which acts as the central bank and main financial supervisory authority, called on the public to use online and contactless payments such as crypto-currencies and to wash their hands after touching cash.