UnionBank Launches Bitcoin and Ethereum Custody and Trading Pilot Program
UnionBank Expands into Cryptocurrency Services
UnionBank of the Philippines, one of the country's largest universal banks, has launched a pilot program offering Bitcoin (BTC) and Ethereum (ETH) custody and trading services to select retail customers. This initiative, announced on November 2, marks a significant step in the bank's foray into the digital asset space.
Collaboration with Metaco
The program is made possible through a partnership with Metaco, a Swiss-based crypto technology company. UnionBank has integrated Metaco's Harmonize platform, a digital asset management solution designed to enable secure and efficient cryptocurrency transactions. The collaboration began in January 2022, with the bank now going live on the platform.
Strategic Move in Digital Asset Adoption
This pilot program underscores UnionBank's commitment to innovation and its efforts to cater to the growing demand for cryptocurrency services in the Philippines. By leveraging Metaco's expertise, the bank aims to provide a robust and user-friendly experience for customers exploring Bitcoin and Ethereum.
The launch is expected to pave the way for broader adoption of digital assets in the region, positioning UnionBank as a leader in the integration of traditional banking and cryptocurrencies.
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