Union Bank of the Philippines has achieved a noteworthy advancement in financial technology, spearheaded by the Aboitiz Group. The Bangko Sentral ng Pilipinas (BSP) recently granted the bank a Certificate of Authority, enabling it to function as a virtual asset service provider (VASP). UnionBank is now the top universal bank in the Philippines offering virtual asset exchange services to its clientele thanks to this outstanding accomplishment.

UnionBank had previously provided a limited number of customers with access to its app’s virtual asset exchange services. In light of the recent BSP certification, the bank intends to broaden the scope of these offerings. A wider customer base will have access to virtual asset exchange capabilities through a gradual integration and rollout that is expected to occur in the last quarter of 2023.

Using a Reliable Banking Platform to Conduct Direct Bitcoin Trading

Customers of UnionBank can now purchase and trade Bitcoin (BTC) straight from the UnionBank app. UnionBank wants to provide its customers with safe and easy cryptocurrency trading by using its well-established reputation and wealth of financial industry knowledge. For those looking to enter the digital asset market, this is a big step.

This innovative feature will combine digital assets and traditional banking into one mobile platform. UnionBank is committed to improving the customer experience by enabling customers to easily handle both traditional banking operations and digital asset exchanges.

The CEO’s Vision: Transforming the Financial Industry

UnionBank President and CEO Edwin Bautista was ecstatic about this new accomplishment. He underlined how much of a step forward this certification is for UnionBank. Bautista emphasized that this license not only represents a change in the way the bank’s clients interact with their financial institution but also opens doors for innovative prospects.

The BSP’s approval of UnionBank is a reflection of the Philippines’ constantly changing financial environment. This action indicates that the traditional banking industry is beginning to adopt digital currencies more widely. UnionBank is demonstrating a forward-thinking attitude and a dedication to cutting-edge services for its customers as it makes headway toward enabling cryptocurrency trading through its well-established financial platform.