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Philippines’ UnionBank Launches Payments-Focused Stablecoin

In a bid to drive greater financial inclusion, Philippines-based UnionBank has launched a payments-focused stablecoin pegged to the Philippine peso.A report from PhilStar Global on July 26 revealed that the new, bank-backed cryptocurrency —  dubbed PHX — is being implemented on UnionBank’s i2i platform. Rural banks and Philippines’ main financial

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Philippines’ UnionBank Rolls Out Own Cryptocurrency: The PHX Stablecoin

After last year’s pilot project in collaboration with the Ethereum-based startup ConsenSys, Philippine’s UnionBank now has its own cryptocurrency, reports local news outlet The Philippine Star.Arvie de Vera, Senior Vice President of UnionBank confirmed that not just the cryptocurrency, in the form of a stablecoin called PHX, has been launched,

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Philippines’ Central Bank Will Continue to Closely Monitor Crypto, Citing Terror Financing

The governor of the Philippines’ central bank, Benjamin Diokno, has warned against the potential use of cryptocurrencies for terrorism financing and underscored that the Bangko Sentral ng Pilipinas (BSP) will continue to closely monitor their use in the country. The news was reported by local English language newspaper The

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Major Philippines Bank Union Bank Launches Two-Way Crypto ATM: Report

Major Philippines bank Union Bank is launching the country’s first two-way cryptocurrency ATM, local media outlet Philstar reported Feb. 6.The move will reportedly let customers buy and sell cryptocurrencies for cash via the ATM as part of the bank’s “sandbox” — a framework for conducting experiments in a controlled environment.The

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New Regulatory Framework for Digital Asset Token Offering Introduced in Philippines

The Philippines has introduced a new set of rules governing Digital Asset Token Offering (DATO), according to a press release published by the Asia Blockchain and Crypto Association (ABACA) on Feb. 4.The new regulations released by the country’s Cagayan Economic Zone Authority (CEZA) are reportedly designed to regulate the cryptocurrency

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Final Draft of ICO Legislation Could Signify Next Step for Philippines Fintech Sector

The Philippine Securities and Exchange Commission (SEC) is due to unveil the hotly anticipated draft regulation for cryptocurrencies in the next few days, if the information provided by The Manilla Times is correct. If the regulation reflects the previous enthusiastic efforts to implement cryptocurrency in the Philippines, it stands to

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Philippines To Regulate Cryptos; work with the BSP, inspire confidence in the sector

Recognising the global interest in cryptocurrencies, there are reports out of the Philippines to regulate cryptos. The Manila Times reports that the Securities and Exchange Commission (SEC) of the Philippines is targeting to release draft rules this month. The move comes at a time when most Asian countries are shunning

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Philippines to Publish Final ICO Regulation, Draft Crypto Exchange Rules Within Two Weeks

Regulators in the Philippines plan to reveal draft cryptocurrency regulation by the middle of this month, local media outlet The Manila Times reported Monday, September 3.Citing Ephyro Luis Amatong, chairman of the country’s Securities and Exchange Commission (SEC) speaking to reporters, The Manila Times confirmed cryptocurrency exchanges could soon be

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