NOVEMBER 3, 2022 BY HENNESSY AJANG
One of the biggest universal banks in the Philippines, The Union Bank of the Philippines, or simply UnionBank, said on 2 November 2022 that it has begun an airman program for Bitcoin( BTC) guardianship and trading services for a select group of retail guests.
UnionBank went online on Harmonize, a digital asset platform developed by Metaco, a Swiss crypto technology company, as part of the debut of the new investment and trading function. In January 2022, UnionBank and Metaco formed their first common adventure for the creation of cryptocurrency trading services.
UnionBank, which is authorized and governed by Bangko Sentral ng Pilipinas( BSP), the Philippine government’s central bank, has been laboriously probing the cryptocurrency request lately. A stablecoin geared toward payments and pegged to the Philippine peso was introduced by UnionBank in 2019.
For UnionBank to offer “client-centric” services in the Philippines, Metaco has been essential, according to Henry Aguda, principal technology officer and principal metamorphosis officer. He added that UnionBank is one of the nation’s first regulated cryptocurrency adopters, saying,
“ We're proud to continue UnionBank’s series of assiduity firsts, this time being the first regulated bank in the country allowing digital currency exchange features for guests. ”
The advertisement follows Ferdinand Marcos, the chairman of the Philippines, who stressed the significance of embracing blockchain technology to master digital banking and digital commerce.
Marcos mentioned multitudinous associated UnionBank mileposts in a formal presidential speech that was released in September 2022, stating,
“ The track record of UnionBank in creating openings through invention and digital results in the banking sector is uncontested. ”
3336 Blog posts