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September 24, 2023

UnionBank and Coins.ph partner to drive cryptocurrency adoption and digital services expansion

Union Bank of the Philippines (UnionBank) and Coins.ph have signed a memorandum of agreement (MoA) to formalize their partnership.

As part of the partnership, Coins.ph will offer preferential rates to UnionBank clients in the payments and remittance industries, covering services such as buying, selling, and conversion, spot trading, crypto wallet and custody features, and cash in and cash out.

UnionBank’s partnership with Coins.ph enables clients to future-proof themselves in the face of increasing crypto and crypto-enabled technology usage, while also democratizing cryptocurrency accessibility and promoting adoption.

The collaboration will also provide the Aboitiz-led bank with opportunities to expand its services, collaborate with the content creation economy, and enhance its digital offerings as part of its commitment to the Open Finance Center of Excellence.


Three rural banks merge to enhance financial stability

Three rural banks have successfully merged in a move aimed at bolstering their financial stability, as confirmed by the Bangko Sentral ng Pilipinas (BSP). The merger officially took effect on July 13, following the necessary regulatory approvals, as detailed in a circular letter signed by Bankero and BSP Deputy Governor Chuchi G. Fonacier on September 15.

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