
Philippine Block Awards honored country’s top blockchain innovators
Philippine Blockchain Week 2022 presents the honorees of the first-ever Philippine Block Awards, which include leaders in the financial, technology, and business industries.
Philippine Blockchain Week 2022 presents the honorees of the first-ever Philippine Block Awards, which include leaders in the financial, technology, and business industries.
The UBIC, a partnership between UnionBank and Chinese tech giant Huawei, seeks to become the first "smart campus" in the APAC region and serve as a breeding ground for new fintech talents.
The NFT platform called the "Artifract" is the brainchild of UBX, the fintech arm of the UnionBank, in partnership with art-tech startup Unit 256 Ventures.
The event, to be held on October 17-21, will feature key Southeast Asian fintech giants and focus on the rise of ASEAN region’s profile as a global fintech hub.
UnionBank is looking to speed up the digitization of SMEs through its Innovation Campus, where it eyes to harness the power of the metaverse and explore the potential of blockchain technology.
UnionBank cements its role as one of the pioneers of blockchain technology in the Philippines with the digital assets trading service in its bank app, which also serves as a gateway to the metaverse.
Through the new digital asset feature, customers can now directly purchase and sell Bitcoin from the bank's app without needing third-party digital currency wallets.
The digital peso bond issuance is the final step of the bank's process to pioneer the use of blockchain technology in issuing bonds in the country.
UnionBank raised PHP11 billion (US$208 million) in the first-ever digital peso bond offering in the Philippines, marking a successful proof of concept for the utilization of blockchain in the country.
In a disclosure to the Philippines Stock Exchange, UnionBank revealed that the bonds will have a minimum issue size of PHP 1 billion ($19 million).
Philippine Digital Asset Exchange, more popularly known as PDAX, will channel the funds towards making its infrastructure more accessible, safe and efficient.
UnionBank predicts that an average investor in the Philippines will hold 3-5% of his assets in digital currencies in the next five years, up from 1-2% currently.