Филиппиндердин Биримдик Банкы Bitcoin жана Ethereum соодасын баштады

The Union Bank of the Philippines, or simply UnionBank — one of the largest universal banks in the Philippines — has launched a pilot program for Bitcoin (BTC) жана Этер (ETH) custody and trading services for select retail customers, the firm мындай деди: in a joint announcement on Nov. 2.

The new investment and trading feature launched in collaboration with Swiss crypto technology firm Metaco, with UnionBank going live on Metaco’s digital asset platform Harmonize. UnionBank initially partnered with Metaco for the development of crypto trading services in January 2022.

Licensed and supervised by the Philippines’ central bank, Bangko Sentral ng Pilipinas (BSP), UnionBank has been actively exploring the crypto industry in recent years. In 2019, UnionBank төлөмдөргө багытталган стабилкоинди ишке киргизди pegged to the Philippine peso.

Henry Aguda, chief technology officer and chief transformation officer at UnionBank, said that Metaco has been critical in the bank’s goal to provide “customer-centric” services in the Philippines. He also noted that UnionBank is among the early regulated adopters of crypto in the country, stating:

"Биз UnionBankтын тармактык биринчиликтеринин сериясын улантканыбыз менен сыймыктанабыз, бул жолу кардарлар үчүн санариптик валюта алмаштыруу мүмкүнчүлүктөрүн берген өлкөдөгү биринчи жөнгө салынган банк болуп саналат."

The news comes shortly after Philippine President Ferdinand Marcos баса the importance of adopting blockchain technology to master digital banking and digital transactions.

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In an official presidential speech published in September 2022, Marcos referred to several related milestones by UnionBank, stating:

“The track record of UnionBank in creating opportunities through innovation and digital solutions in the banking sector is uncontested.”

Previously, BSP also warned the public against using non-local crypto trading platforms, stressing that dealing with foreign virtual asset service providers poses challenges in enforcing consumer protection. As of August, there were 19 registered VASPs in the Philippines.