Blockchain
BSP Set to Pilot Wholesale Central Bank Digital Currency Project
The Bangko Sentral ng Pilipinas (BSP) announced that it has decided to pursue the pilot project of a wholesale central bank digital currency (CBDC) as part of its efforts to promote the stability of the country’s payment system. Dubbed Project
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PayMaya Enables In-App Crypto Investments From as Low as PHP 1
Philippines digital wallet PayMaya has now enabled Filipinos to easily buy and earn cryptos such as Bitcoin and Ethereum from PHP 1 for an all-in-one app experience. Licensed by the Bangko Sentral ng Pilipinas (BSP), PayMaya is both an Electronic
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Fintech Takes Lion’s Share of Philippines Tech Funding for Second Consecutive Year
The Philippines’ fintech industry is blossoming on the back of surging funding activity, a conducive regulatory environment, and rapid adoption of digital financial services, a new report by the Boston Consulting Group (BCG) and Foxmont Capital Partners shows. In 2021,
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UnionDigital Bank Partners With YGG to Serve the Play-To-Earn Community
UnionDigital Bank, the digital bank entity of the Union bank of the Philippines, has signed a Memorandum of Understanding with global play-to-earn guild Yield Guild Games (YGG) during its first-ever Managers’ Summit. The partnership between UnionDigital Bank and YGG will
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UnionBank Joins R3’s Digital Currency Sandbox
The Union Bank of the Philippines has become the first commercial bank in the country to be part of the global R3 Sandbox for Digital Currencies. The sandbox brings together commercial banks, central banks, payment providers and exchanges to collaborate
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Crypto Exchange PDAX Secures US$50 Million in Series B Led by Tiger Global
The Philippine Digital Asset Exchange (PDAX) announced that it has raised more than US$50 million in funding led by Tiger Global. Tiger’s investment completes the company’s Series B funding round which began with US$12.5 million in August 2021. Other investors include
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UnionBank Picks METACO and IBM to Set Up Its Digital Asset Custody Operations
The Union Bank of the Philippines has selected METACO, a provider of security-critical software and infrastructure to the digital asset ecosystem, to implement its digital asset management services. The bank will leverage METACO Harmonize which is its digital asset orchestration
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Dragonpay Taps TripleA to Offer Crypto Payments to Filipino Merchants
Philippines’ payments firm Dragonpay announced that it has partnered with TripleA to roll out crypto payments to thousands of merchants in the country. With the low penetration of credit cards and banking services in the Philippines, Dragonpay aims to bridge
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The Philippine Stock Exchange Wants To Offer Crypto Trading
The Philippine Stock Exchange (PSE) is awaiting a nod from regulators to start cryptocurrency trading, CNN has reported. PSE President and CEO Ramon Monzon believes that the bourse is ideal for crypto trading owing to its existing trading infrastructure and
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Philippines Central Bank Updates Guidelines Crypto Exchanges
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) has approved the guidelines on virtual asset service providers (VASP) and entities that facilitate financial services through the conduct of virtual asset (VA) activities. The said guidelines amended the regulations
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