Philippines Financial Institution Unionbank Now Provides Crypto Custody and Trading Services

The Union Bank of the Philippines, Inc., much commonly known arsenic Unionbank, announced that the fiscal instauration launched bitcoin and ethereum custody and trading services. The ninth largest slope successful the state by assets, Unionbank, volition leverage Metaco’s level Harmonize to aviator the crypto services for clients.

Unionbank to Provide Bitcoin and Ethereum Custody and Trading Services via Metaco

On Nov. 2, 2022, the Philippines-based fiscal instauration founded successful 1981, Unionbank, revealed it is present offering bitcoin (BTC) and ethereum (ETH) services for customers. According to the announcement published connected Wednesday, Unionbank is 1 of a fig of prime fiscal institutions approved by Bangko Sentral ng Pilipinas (BSP) to run arsenic a virtual plus work supplier (VASP).

Unionbank has started the aviator with bitcoin and ethereum custody and trading services. In 2019, Unionbank launched a stablecoin pegged to the worth of the Philippine peso. At the extremity of April 2022, Unionbank entered the metaverse system arsenic well. The Philippines-based cosmopolitan slope Unionbank is utilizing Metaco’s level Harmonize, which is dubbed a “digital plus custody and orchestration platform, arsenic a afloat managed work deployed successful the cloud.” Metaco’s Harmonize volition “manage governance and operations for the [Unionbank] pilot.

“Unionbank’s collaboration with its strategical spouse Metaco has been captious successful the bank’s pursuit of realizing its imaginativeness of delivering superior, customer-centric services to the Philippine market,” Henry Aguda, the main exertion and operations serviceman and main translation serviceman astatine Unionbank, remarked. “We are arrogant to proceed UnionBank’s bid of manufacture firsts, this clip being the archetypal regulated slope successful the state allowing integer currency speech diagnostic for clients.”

Unionbank aims to grow the work successful the aboriginal arsenic it wants to trade a “safe and compliant situation for millions of Filipinos to custody and speech integer currencies specified arsenic bitcoin.” The Philippines-based fiscal instauration said it is readying itself for “wider rollouts of its integer plus services” portion astatine the aforesaid clip “future-proofing its concern model.”

What bash you deliberation astir Unionbank offering bitcoin and ethereum services? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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