UnionBank Set To Be the First Universal Bank to Offer Crypto Services in PH
UNIONBANK – The bank is set to be the first universal bank in PH to offer buy and sell services of cryptocurrencies like Bitcoin.
Technology has undeniably reached an unimaginable peak. Nowadays, money or finances are not only in the form of physical objects like paper bills and coins. You can also have digital assets like cryptocurrencies and as well as digital savings or money kept in a bank account, a financial platform, or another online money-saving app.
With regards to cryptocurrencies, there are several emerging cryptos that hooked people. There are also those that have built a name on top of the other digital currencies – one of them is Bitcoin. It is recorded through blockchain, a public distributed ledger.
Amid the continued growth of cryptocurrencies across the globe, UnionBank is set to be the first universal bank in the Philippines to offer services that deal with crypto like Bitcoin. Based on an article on ABS-CBN News, the bank is ready to buy and sell crypto.
According to the report, UnionBank is set to offer its crypto services through its online app. With this, the owner no longer needs a third-party wallet in buying or selling cryptocurrencies like Bitcoin. The bank’s Digital Asset Markets and API Marketplace Group Head of Blockchain Center of Excellence Cathy Casas stressed that they recognize the mark that cryptocurrency is making most especially in the younger generation.
According to the bank, the said feature will be on a random rollout to its pre-selected users. The bank’s Senior Executive Vice President, Chief Technology and Operations Officer, and Chief Transformation Officer, Henry Aguda, said that they also want to make sure that they serve the needs of their clients who use these digital currencies.
The bank is one of the few banking and financial companies that acquired a permit to operate a digital bank in the country. You may visit – UnionBank Digital Bank “UnionDigital” Officially Starts Operations.
