Search Results for: Union

The End of Physical Cash is an Inevitable Reality and Not to be Feared Says Union Bank President

The Chief Executive and President of UnionBank of the Philippines, Edwin Bautista, has predicted that the coronavirus pandemic will drive banks to fast track the shift toward digital currencies, therefore abandoning the use of physical money. Bautista said that the outbreak has caused rising demand for online banking services, thus pushing banks to rethink and … Continue reading The End of Physical Cash is an Inevitable Reality and Not to be Feared Says Union Bank President

Western Union Makes Offer to Acquire Cross-Border Payments Firm MoneyGram

Financial giant, Western Union is in discussions to acquire cross-border payments company MoneyGram according to a June 1 article by Bloomberg. Western Union Co. is seeking to acquire MoneyGram International Inc. in a transaction that would bring together two of the largest US providers of cross-border payments. The news comes via an anonymous Bloomberg source, … Continue reading Western Union Makes Offer to Acquire Cross-Border Payments Firm MoneyGram

European Union Parliament Considers Petition for Crypto Fraud Victims Fund

The European Union (EU) Parliament is considering a petition filed by a consortium of individuals, organizations and companies that seeks to establish a restitution fund for victims of crypto fraud. The EU Parliament has announced that they are considering a petition submitted by a consortium of crypto fraud victims. The objective of the petition is … Continue reading European Union Parliament Considers Petition for Crypto Fraud Victims Fund

StanChart and UnionBank of the Philippines Collaborate on PoC of $187 Million Blockchain-Powered Bond

The UnionBank of the Philippines and Standard Chartered (StanChart) have created a proof of concept required in the issuance of a blockchain-powered retail bond. The blockchain platform intended for bond tokenization was co-developed by SC Ventures, StanChart’s innovation and ventures arm, and UnionBank. Bond tokenization The tokenized retail bond worth $187 million (9 billion pesos) … Continue reading StanChart and UnionBank of the Philippines Collaborate on PoC of $187 Million Blockchain-Powered Bond

Union Bank of Philippines Cooperates with Hex Trust for Promoting Pilot Digital Assets Custody Service

Union Bank of Philippines (UnionBank) announced Wednesday the bank has paired with Hong Kong-based Hex Trust to pilot digital assets custody service. In response to maturing space and growing interest in digital assets and blockchain technology, and the need for trust and regulated institutions to manage digital assets from retail and institutional investors, this partnership … Continue reading Union Bank of Philippines Cooperates with Hex Trust for Promoting Pilot Digital Assets Custody Service

Western Union Counts its Losses in Advance as El Salvador Bitcoin Era Begins

Western Union and the majority of money service providers operating in El Salvador may lose their grip in the country as the new Bitcoin era becomes entrenched. CNBC reported, citing El Salvadorans living in the diaspora, there is an excitement about the potential reduction in remittance fees being passed on by companies like Western Union onto their … Continue reading Western Union Counts its Losses in Advance as El Salvador Bitcoin Era Begins

US Credit Unions Gain Access to Partner with Crypto Assets Service Providers

The United States National Credit Union Administration (NCUA) has granted domestic credit unions that are under the aegis of the Federally Insured Credit Unions (FICUs) the permission to enter into business partnerships with third-party digital currency trading platforms. As contained in a letter addressed to the credit unions, the NCUA said its aim is to … Continue reading US Credit Unions Gain Access to Partner with Crypto Assets Service Providers

Union Bank of the Philippines to Enhance Crypto Trading & Custody Services

Union Bank of the Philippines (UnionBank) plans to choose Metaco and IBM to enhance cryptocurrency trading and custody services, taking advantage of the Asian country’s rapid adoption of digital tokens. Upon completion of this integration, UnionBank will improve the insurability of assets, how keys are managed and migrated through FIPS 140-2 Level 4 certified controls, the highest … Continue reading Union Bank of the Philippines to Enhance Crypto Trading & Custody Services

Russian Banks Seeks Help from China's UnionPay amid Crackdown from Mastercard & Visa

Following the service cut from American payment giants Mastercard and Visa, the Central Bank of Russia (CBR) has informed its citizens that credit and debit cards issued by these service providers will stop functioning overseas from March 9.  In a bid to mitigate the strain on the users of these payment service providers, the Central … Continue reading Russian Banks Seeks Help from China's UnionPay amid Crackdown from Mastercard & Visa

European Union Close in Agreeing on Crypto Regulations – Bloomberg

As the clamor for crypto regulations has continued to intensify, the European Union (EU) is close to agreeing on a comprehensive regulation that will govern the nascent digital currency ecosystem. The news was broken by Bloomberg claiming to draw inference from sources familiar with the discussions between the 27 member states. Per the Bloomberg report, … Continue reading European Union Close in Agreeing on Crypto Regulations – Bloomberg

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