UnionBank Partners with METACO to Launch Crypto Trading Services
Partnership Overview
UnionBank of the Philippines has announced a strategic partnership with METACO, a leading blockchain infrastructure provider, to launch cryptocurrency trading services for its customers. This collaboration aims to integrate crypto trading capabilities into the bank’s online banking platform, enhancing its digital offerings.
Technology and Platform
The partnership leverages METACO’s identification, authentication, custody, and management platform to develop a robust crypto solution. This platform will handle all project-related operations, including governance, ensuring a secure and efficient experience for users.
Strategic Importance
Henry Aguda, UnionBank’s Chief Technology & Operations Officer, emphasized the importance of this collaboration in delivering customer-centric services. The initiative aligns with President Ferdinand Marcos’ push for blockchain technology adoption to advance digital banking and commerce in the Philippines.
Launch and Future Plans
UnionBank plans to roll out trading services for Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies by market capitalization. The bank has been actively involved in the crypto space since 2019, including the launch of a stablecoin pegged to the Philippine Peso for remittance payments.
Significance in the Digital Economy
This move underscores UnionBank’s commitment to innovation and meeting the growing demands of its customers in the digital age. By integrating blockchain technology, the bank is positioning itself as a leader in the Philippines’ evolving digital economy.
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