UnionBank, Coins.ph Team Up to make Crypto More Accessible | BitPinas

• Union Bank of the Philippines (UnionBank) and Coins.ph have partnered to enhance accessibility to cryptocurrencies and emerging digital asset classes for Filipinos.
• Coins.ph will offer preferential rates for its services to UnionBank clients, focusing on payments and remittance, covering various functionalities such as buying, selling, converting, spot trading, and crypto wallet features.
• The launch of the product will be facilitated by UnionBank’s Digital Business Solutions (DBS) Referral Program, allowing customers to access Coins.ph-powered crypto offerings through multiple platforms.

Local fintech firms Union Bank of the Philippines (UnionBank) and Coins.ph recently forged a partnership to make cryptocurrencies and other emerging digital asset classes more accessible to Filipinos.

UnionBank x Coins.ph

The collaboration was finalized in a memorandum of agreement signing ceremony last May 30, 2023 at the UnionBank Plaza in Pasig City. The joint initiative between the bank and the crypto wallet and exchange is set to improve the accessibility of cryptocurrencies and other emerging asset classes in the open market.

The signing was attended by the companies’ representatives; From Coins.ph – President David Kao, Chief Financial Officer Lily Chen, Country Manager for the Philippines Jen Bilango, and for UnionBank – Sales Director Bamm Bamm Roxas, Fintech Business Group (FBG) Head Erika Dizon-Go, Relationship Manager Honey Regala, and FBG Assistant Vice President – Sales and Partnerships Gel Enriquez.

Coins.ph will provide special rates for its services to UnionBank clients, focusing on the payments and remittance sectors. The partnership includes various services such as buying, selling, and converting cryptocurrencies, spot trading, crypto wallet and custody features, as well as cash in and cash out functionalities.

“We wanted to partner with UnionBank, because at the end of the day, what’s most important for us and for the community at large is to make it accessible and easy for people to buy, sell, and trade crypto,” Bilango stated. She then noted that the partnership will unlock new financial opportunities for Filipinos as it will allow the firms to build trust and drive wider adoption of cryptocurrencies in the country.

Where to access the products?

The launch of the new product will be facilitated by UnionBank’s Digital Business Solutions (DBS) Referral Program of the bank which will allow its customers to access Coins.ph-powered crypto offerings through various platforms. 

Roxas expressed the significance of the partnership, highlighting the stronger bond between Coins.ph and UnionBank, and expressing optimism for the success of the newly launched product. 

The Coins.ph integration will allow UnionBank to be able to assist its clients in leveraging the growing popularity of cryptocurrencies and crypto-enabled technologies. The collaboration also aims to democratize access to cryptocurrencies and drive their widespread adoption.

“We know that the crypto market has been on a slowdown for quite some time now, but we remain steadfast and ready once the bull market returns. When that happens, we want to be in the forefront to offer services with the help of our long-time partner Coins.ph,” said Enriquez.

She also expressed that UnionBank is optimistic that the partnership will bring a “more open and digitalized future for our clients, the communities, and the country as a whole.” 

Recently, the Bangko Sentral ng Pilipinas (BSP)-regulated cryptocurrency exchange Philippine Digital Asset Exchange (PDAX) was formally added  in the DBS Referral Program; the exchange can now provide crypto services and digital solutions to the bank’s clients.

Last November, UnionBank had a partnership with market provider for financial institutions to offer digital assets METACO to launch its crypto trading and custody services to select retail clients via its mobile application.

This article is published on BitPinas: UnionBank, Coins.ph Teams Up to make Crypto More Accessible

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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