Union Financial institution of The Philippines Launches Crypto Buying and selling Providers

Following its partnership with Switzerland-based expertise agency, Metaco, the Union Financial institution of the Philippines has now launched a crypto buying and selling service for its prospects.

Based on the announcement shared, retail prospects, can now entry the crypto buying and selling service on Metaco’s digital asset platform Harmonize as it’s now operational. 


Henry Aguda, chief expertise officer and chief transformation officer at Union Financial institution, commented on this information saying the partnership with Metaco has been part of the financial institution’s purpose to supply customer-centric providers within the Philippines. He additionally famous that Union Financial institution is the primary regulated financial institution within the nation to supply prospects with a digital asset change function.


“UnionBank’s collaboration with its strategic companion Metaco has been important within the financial institution’s pursuit of realizing its imaginative and prescient of delivering superior, customer-centric providers to the Philippine market,’’ mentioned Henry, ’We’re proud to proceed UnionBank’s sequence of trade firsts, this time being the primary regulated financial institution within the nation permitting digital foreign money change options for shoppers.”


Metaco is an enterprise cryptocurrency firm based in 2015 that permits monetary and non-financial establishments to handle their digital asset enterprise securely. 


Based in 1982, Union Financial institution is likely one of the largest banks within the Philippines, with property underneath administration totaling $15 billion. The financial institution integrates digital asset administration providers on IBM Cloud by Metaco’s resolution.


Notably, Union Financial institution’s collaboration with Metaco to reinforce cryptocurrency buying and selling and custody providers was initially revealed in January. The financial institution has since been within the promotion of crypto providers each according to shopper calls for and normal trade tendencies. 

As reported by Blockchain.Information in 2021, the financial institution paired with Hong Kong-based Hex Belief to pilot digital property custody service. Again then, Union Financial institution hoped the cooperation would result in its pioneer entry into the digital asset sector within the Philippines.

Picture supply: Shutterstock

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