- Philippines’ UnionBank announced its partnership with METACO.
- The partnership will help UnionBank launch its crypto trading services to customers.
- Both companies worked together to develop the crypto solution for the bank’s online banking application.
The Union Bank of the Philippines, also called UnionBank, announced that it has partnered with METACO, a blockchain infrastructure provider, to launch its crypto trading services for customers.
According to an official announcement made by the team METACO, as the base of the new solution, UnionBank will use METACO’s identification and authentication custody and management platform. In the past, both companies have worked together to develop the crypto solution for UnionBank’s online banking application.
Henry Aguda, Chief Technology & Operations Officer and Chief Transformation Officer at UnionBank stated:
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.
The announcement follows Ferdinand Marcos, the President of the Philippines, who stressed the significance of integrating blockchain technology to conquer digital banking and digital commerce. To meet the expanding needs of its consumers and secure the project’s future, the custodial platform will handle all project-related operations, including governance.
Seamus Donoghue, Chief Growth Officer at METACO commented on the partnership:
As a key strategic partner, we are proud to see METACO Harmonize going live in six months since the project effectively commenced, and now supporting the launch of UnionBank’s digital asset pilot with select customers.
Concurrently, UnionBank plans to launch its trading services supporting Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies by market capitalization. The bank has actively been associated with the crypto industry since 2019, launching its stablecoin pegged 1:1 to the Philippine Peso for remittance payments.
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