A leading Philippine bank has leveraged a digital asset custody orchestration platform to become the first universal bank in the country t...
METACO, the leading provider of digital asset management technology to complex, global banks, is pleased to announce that Union Bank of the Philippines (UnionBank), one of the largest universal banks in the Philippines, has gone live with METACO's flagship platform. They will be piloting crypto services for their clients on Harmonize. They will begin with the two largest cryptocurrencies by marketcap.
UnionBank is proud to announce our cryptocurrency pilot program. As one of a select group of institutions granted crypto licenses by the Bangko Sentral ng Pilipinas, UnionBank will offer Bitcoin (BTC) and Ethereum (ETH) custody and trading services for select retail customers. This major milestone follows other successful digital currency projects from UnionBank, including our launch of a stablecoin for remittance payments and our entry in the Metaverse economy.
The President of the Philippines, Ferdinand Romualdez Marcos Jr., has been very supportive of blockchain technology, outlining its potential in fostering financial inclusion in his country at the recent opening of UnionBank's Innovation Campus.
UnionBank has partnered with METACO, provider of the Harmonize digital asset platform, to help it manage these processes. It will be able to serve customers more easily, provide them with a digital asset exchange service and future-proof its business model.
"UnionBank's collaboration with its strategic partner METACO has been critical in the bank's pursuit of realizing its vision of delivering superior, customer-centric services to the Philippine market," says Henry Aguda, UnionBank's Chief Technology & Operations Officer and Chief Transformation Officer. "We are proud to continue UnionBank's series of industry firsts, this time being the first regulated bank in the country allowing digital currency exchange feature for clients."
METACO's Chief Growth Officer, Seamus Donoghue, commented: "As a key strategic partner, we are happy to see METACO Harmonize go live in 6 months since the project began. We're now supporting UnionBank's digital asset pilot with select customers. Our bank-grade digital asset orchestration platform, Harmonize, provides UnionBank with options for exploring retail and institutional digital assets."
METACO is a leading technology provider for banks and corporations in the digital asset ecosystem. We have Tier 1 and Tier 2 implementations, including Switzerland, Germany, France, United Kingdom, United States, Turkey Singapore, Australia and Hong Kong.
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