Bitcoin machines are on the rise worldwide. Currently, these devices are in 76 countries and now the Philippines have been added to the list.
In the capital Manila, the first Bitcoin ATM was set up by UnionBank and Philippine’s central bank, Bangko Sentral ng Pilipinas. The fact that these parties are behind setting up the Bitcoin ATM in Manila shows a trend of growing acceptance for cryptocurrencies in the Philippines.
UnionBank justifies its commitment that it must adapt to the “changing needs and tastes of its customers”. Therefore, users of cryptocurrencies should be able to convert their digital currencies to the Philippine national currency Peso and vice versa.
— Mike Abundo (@MikeAbundo) 12. Februar 2019
The Bitcoin ATM in Manila enables users to deposit and withdraw from a wide range of cryptocurrencies including but not limited to Bitcoin, Ethereum, Litecoin and Monero.
“The Bitcoin ATM” is located in the bank’s main branch, UnionBank Plaza, Meralco Ave. cor. Onyx St., Ortigas Center, Pasig City.
Featured image credit: UnionBank Philippines
This article first appeared on fintechnews.sg