The Union Bank of the Philippines, Inc., more commonly called Unionbank, declared that the financial institution launched bitcoin and ethereum custody and trading services. The ninth largest bank within the country by assets, Unionbank, can leverage Metaco’s platform Harmonize to pilot the crypto services for clients.
Unionbank to Provide Bitcoin and Ethereum Custody and Trading Services via Metaco
On Nov. 2, 2022, the Philippines-based financial institution supported in 1981, Unionbank, revealed it's now providing bitcoin (BTC) and ethereum (ETH) services for purchasers. according to the announcement printed on Wednesday, Unionbank is one among a number of choose money establishments approved by Bangko Sentral weight unit Pilipinas (BSP) to operate as a virtual asset service provider (VASP).
Unionbank has started the pilot with bitcoin and ethereum custody and trading services. In 2019, Unionbank launched a stablecoin pegged to the worth of the Philippine peso. At the top of April 2022, Unionbank entered the metaverse economy also. The Philippines-based universal bank Unionbank is utilizing Metaco’s platform Harmonize, that is dubbed a “digital quality custody and orchestration platform, as a completely managed service deployed within the cloud.” Metaco’s Harmonize can “manage governance and operations for the pilot.
“Unionbank’s collaboration with its strategic partner Metaco has been essential within the bank’s pursuit of realizing its vision of delivering superior, customer-centric services to the Philippine market,” Henry Aguda, the chief technology and operations officer and chief transformation officer at Unionbank, remarked. “We ar proud to continue UnionBank’s series of trade firsts, this point being the primary regulated bank within the country permitting digital currency exchange feature for purchasers.”
Unionbank aims to expand the service within the future because it desires to craft a “safe and compliant setting for innumerable Filipinos to custody and exchange digital currencies like bitcoin.” The Philippines-based financial organization said it's readying itself for “wider rollouts of its digital asset services” while at the same time “future-proofing its business model.”
( Jamie Redman, Bitcoin.com, 2022 )