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Author Topic: UNIONBANK LAUNCHES THE FIRST CRYPTO ATM in the PHILIPPINES!!  (Read 756 times)
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February 07, 2019, 03:17:06 AM
Merited by bL4nkcode (1)
 #1

February 7, 2019 / Manila, Philippines – UnionBank of the Philippines has launched a cryptocurrency ATM that allows buying and selling of cryptocurrencies (virtual currencies) for cash.



As reported by the Philippine Star, the virtual currency automated teller machine (ATM) is launched to cater to clients who use virtual currency. In a statement, the bank said this ATM “will provide these clients with an alternative channel to convert their pesos to virtual currency and vice versa”.

UnionBank said this cryptocurrency ATM offering is in line will all applicable regulations, particularly the ones set by the Philippine Central Bank (Bangko Sentral ng Pilipinas – BSP).



UnionBank has a reported slip in earnings due to a significant increase in operating expenses as well as changes in operating standards. The bank noted it is making investments in its people and its operation as it prepares for the third phase of its digital transformation.

UnionBank’s Project i2i is an initiative to connect rural banks with each other via blockchain. It is just one of its many projects that aims to use blockchain, with the addition of a blockchain institute to train blockchain developers and a blockchain-based platform for General Circulars (GCs). Last week, it teamed up with IBM in building a blockchain-based solution for reinventing supply chain finance. Announced on IBM’s blog, the cloud-based application is set to transform finance transactions through a permission digital ledger – the “IBM Blockchain Platform”. This solution will be available to all of UnionBank’s customers and partners that want to join the blockchain network.


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February 07, 2019, 03:42:55 AM
 #2

February 7, 2019 / Manila, Philippines – UnionBank of the Philippines has launched a cryptocurrency ATM that allows buying and selling of cryptocurrencies (virtual currencies) for cash.



As reported by the Philippine Star, the virtual currency automated teller machine (ATM) is launched to cater to clients who use virtual currency. In a statement, the bank said this ATM “will provide these clients with an alternative channel to convert their pesos to virtual currency and vice versa”.

UnionBank said this cryptocurrency ATM offering is in line will all applicable regulations, particularly the ones set by the Philippine Central Bank (Bangko Sentral ng Pilipinas – BSP).



UnionBank has a reported slip in earnings due to a significant increase in operating expenses as well as changes in operating standards. The bank noted it is making investments in its people and its operation as it prepares for the third phase of its digital transformation.

UnionBank’s Project i2i is an initiative to connect rural banks with each other via blockchain. It is just one of its many projects that aims to use blockchain, with the addition of a blockchain institute to train blockchain developers and a blockchain-based platform for General Circulars (GCs). Last week, it teamed up with IBM in building a blockchain-based solution for reinventing supply chain finance. Announced on IBM’s blog, the cloud-based application is set to transform finance transactions through a permission digital ledger – the “IBM Blockchain Platform”. This solution will be available to all of UnionBank’s customers and partners that want to join the blockchain network.


Ayan na mga kabayan, malamang lalo kayong mabuhayan ng loob na tangkilikin ang Bitcoin at ibang Alts!! Mabuhay sa mga Pinoy Trader, Miner at Bounty Hunters!!

una pa man talagang pinapakita ng unionbank na gusto nila ang cryptocurrency although di naman natin masasabi na sila yung best pag dating sa adoptation nung una pero ngayon nagiging ahead na sila sa pagtanggap ng crypto at magandang panimula to sa banking industry at lalo na sa mga tao na makilala nag crpyto ngayon pa na di maganda yung issue atleast sa ngayon makikita nila ito sa isang banko, dapat lang na maging maganda yung approach dto para mabago ang image ng crpytocurrency.
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February 07, 2019, 03:47:10 AM
 #3

Usually dedma lang ako about sa mga news na may mga nagbukas ng bagong bitcoin ATM dito sa Pinas, pero this case? Knowing na isang decently reputable bank mismo ang nagbukas ng bitcoin ATM? Very big yes from me! Hoping for something like being able to buy bitcoin straight out of your UnionBank online banking dashboard; un ang talagang dealbreaker na baka rason ng paglipat ko sa UnionBank kung magkaroon ng ganun.

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February 07, 2019, 05:57:35 AM
Last edit: February 07, 2019, 06:37:43 AM by BlackMambaPH
 #4

Naalala ko yung UNION Bank invited or umattend yung representative nila sa Binance meetup last December 2018 dito sa Manila. Nalaman ko yung nung nag upload yung Binance clip sa YouTube channel ng Binance. Also, this might be their preparation just in case bitcoin price will recover.

Ito yung video na makikita mo na nandito yung representative  UNION Bank: https://www.youtube.com/watch?v=suNk3rHzeio


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February 07, 2019, 07:37:07 AM
 #5

Ayan may nagumpisa na bangko talaga ibig sabihin bibili at magbebenta sila ng bitcoin gamit ang crypto atm na yan tiwala ako na hindi lang Unionbank ang magbubukas ng serbisyo pagdating sa crypto atm dahil kung hindi mapag iiwanan sila sa makabagong technology na ito, parang magiging totoo kasi yung sabi ng ilan na bitcoin ang magiging main currency pagdating ng panahon.


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February 07, 2019, 08:18:36 AM
 #6

Well magandang balita nga ito dahil alam naman natin na hindi lahat ng mga bangko ay willing na ma-involved sa Bitcoin or any cryptocurrencies, pero ang Unionbank mas nakikita ito para mapahusay ang systema ng financial industry. Pero sabihin na natin na maganda nga ito, pero isipin natin ano ba ang kaibahan ng ATM na ito sa iba pang naunang cryptocurrency ATMs? well hindi pa natin alam kasi hindi pa naman ito narerelease or available ang service nila na ito. Pero kung magiging pareho lang ito ng ibang crypto ATMs na malaki mag charge, then tingin ko hindi rin ito tatangkilikin ng mga tao dahil meron naman tayong ibang ways para makabili at mag benta ng ating mga cryptocurrencies which is mas maliit lang ang service charge. But still magandang balita parin ito dahil malay natin, yung ibang bangko sumunod din sa ginawa nila.
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February 07, 2019, 08:29:45 AM
 #7

That is good news to our fellow Filipino crypto enthusiast, I think if that Union bank will success to adopt cryptocurrency and use the blockchain technology system, that can facilitate cross border transactions using as a payment base that run on the blockchain technology. Union Bank is one of the largest banks in the Philippines.

Probably their competitive banks also will follow the steps of what Union banks did. So, I guess it is the start of Bitcoin to have mass adoption here in our country and having ATM of cryptocurrency will probably help the problem now on the crypto market.





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February 07, 2019, 09:07:40 AM
 #8

Is this happened recently? If its a yes then then how about the btc ATM in Makati? (Here is the source). For this reason, I highly doubt that the ATM launched by Unionbank is the first in the country. Nonetheless, it was a good news for all Filipino crypto enthusiasts like me because we're one step closer to mass adoption once again Smiley. I hope there'll be more btc atms to come and I hope good news like this one continue to surprise us this year 2019.

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February 07, 2019, 10:04:33 AM
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 #9

Sabi ko na nga ba na kung papasok na din ang mga bank sa mundo ng crypto isa sa mga mauuna ang union bank at eto na nga. Good news para sa lahat to pero sana ang rate nila ay very competitive at hindi katulad sa iba na napakataas ng fees
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February 07, 2019, 02:39:01 PM
 #10

I know there must be a reason why the cash-in in coins.ph is 100% rebate or something. Maybe it's because UnionBank is supporting cryptocurrency! It's just nice to see and I don't know their angle if they are going to profit from it or not but it's definitely great for consumers.

Naalala ko yung UNION Bank invited or umattend yung representative nila sa Binance meetup last December 2018 dito sa Manila. Nalaman ko yung nung nag upload yung Binance clip sa YouTube channel ng Binance. Also, this might be their preparation just in case bitcoin price will recover.

Ito yung video na makikita mo na nandito yung representative  UNION Bank: https://www.youtube.com/watch?v=suNk3rHzeio
Nice quick video to watch and knowing that one of the vice presidents (searched for him on Google). He is a believer and it's nice to see support from them. Great job!





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February 07, 2019, 05:13:54 PM
 #11

Wow! Unionbank... That's a big deal alright. I'm glad Filipino tech businesses see the value of cryptocurrencies. I think the only hindrance here is the minimum know how. Most people don't understand what they are using.


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Darklinkz
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February 08, 2019, 04:57:59 AM
 #12

Mabuti naman! Ngayon, wala ng agam-agam ang mga trader natin mag-withdraw ng malaking halaga pag sa UnionBank nila ito idinaan. Ang sarap lang sa pakiramdam na unti-unting pumapabor sa ating ang ibang banko hindi katulad ng ibang sikat na bank diyan na inaakala  galing sa hindi sa legal yung pera pag narining nila na bitcoin or crypto.
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February 08, 2019, 05:05:20 AM
 #13

Mabuti naman! Ngayon, wala ng agam-agam ang mga trader natin mag-withdraw ng malaking halaga pag sa UnionBank nila ito idinaan. Ang sarap lang sa pakiramdam na unti-unting pumapabor sa ating ang ibang banko hindi katulad ng ibang sikat na bank diyan na inaakala  galing sa hindi sa legal yung pera pag narining nila na bitcoin or crypto.

Hindi ko sinasabing parang Security Bank at BDO to pero parang ganun na nga. *Insert memes picture. Haha Well hindi natin sila masisi kasi karaniwang ganun nagagamit ang Cryptocurrency kaya yung iba naging negative na sa kanila. Kung wala lang sanang nagtetake advantage happy tayong lahat.

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February 08, 2019, 07:16:44 AM
 #14

Wow isa sa mga malaking bangko interesado na sa cryptocurrency yan ang gusto kong marining na magandang balita, may ipapalit na ang ATM security bank.

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February 08, 2019, 07:51:13 AM
 #15

Napakagandang balita nito para sa mga crypto enthusiasts sa ating bansa, sana lang ay ipakalat nila ito sa iba't ibang lugar sa Pilipinas para lalong macurious yung mga tao kung ano ba ang cryptocurrency. Pagtagal-tagal nito makikita na din natin ito bilang advertisements o commercials sa Television.

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February 08, 2019, 07:55:37 AM
 #16

Its really happening, partnership with coins.ph. This is a good thing and bad thing. More scammers will be in this field. And im glad one of the famous bank in the philippines recognized bitcoin cryptocurrency. Kasi sa BDO if natrace nila na related ung account mo sa bitcoin, there’s  a possibility na i-close ang account mo.
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February 08, 2019, 07:58:34 AM
 #17

Sobrang saya! Finally isang bank institute na hindi i co condemn ang crypto. 2017 dami news tungkol kay BDO na nag papa close ng account pag nalaman na sa crypto trading or anything that has something to do with crypto kinoclose ang account. There are several cases posted in facebook cryto groups, ngaun at least meron nang isa at panigurado may mga susunod na jan. Maswerte tayo na crypto friendly ang bansa natin  Smiley Smiley Smiley

Magbunyi mga kabayan!
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February 08, 2019, 12:17:25 PM
 #18

Magandang balita ito para sa atin, salamat na may isang bangko sumusuporta sa cryptocurrency, I'm sure na maraming pinoy interesado sa crypto.
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February 08, 2019, 03:05:09 PM
 #19

Sobrang saya! Finally isang bank institute na hindi i co condemn ang crypto. 2017 dami news tungkol kay BDO na nag papa close ng account pag nalaman na sa crypto trading or anything that has something to do with crypto kinoclose ang account. There are several cases posted in facebook cryto groups, ngaun at least meron nang isa at panigurado may mga susunod na jan. Maswerte tayo na crypto friendly ang bansa natin  Smiley Smiley Smiley

Magbunyi mga kabayan!


from the beginning naman talaga ang BDO ang tutol sa ganitong industry although aware sila pero di pa din nila ito sinusuportahan, and union bank naman although di pa sila full support pero wala silang ginagawa na pagpigil sa crypto transactions, isa din sila sa naging medium ng cash in ng crypto. Sana lang sundan pa ito ng madaming malalaking banko, at the same the suportahan na din ng BSP ang ganitong industriya.                                                           
mrfaith01
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February 08, 2019, 08:00:43 PM
 #20

napakagandang malaman na meron ng banko na timatangkilik sa crypto currency, magandang balita yan para sa mga trader natin at tingin ko na mabuti ang magiging feedback nito sa btc sana tuloy tuloy lng pagtanggap sa digital currency

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