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Shiversnow
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February 12, 2019, 02:46:51 PM |
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Union Bank of the Philippines Launching Cryptocurrency ATM One of the largest banks in the Philippines is reportedly launching a two-way cryptocurrency ATM that is in compliance with Bangko Sentral ng Pilipinas’ specifications. In the Philippines, the central bank regulates cryptocurrencies “when used for delivery of financial services, particularly, for payments and remittances.” https://news.bitcoin.com/union-bank-philippines-cryptocurrency-atm/Another compelling moved that the Philippines is really working hard and getting closer to adopt bitcoin as one of the biggest bank in the country is launching a crypto ATM. Union Bank seems to be spearheading this, and as far as I can remember this bank is one of the first if not the first to integrate Paypal as well in the country. So let's see how it goes. Its great to see that bitcoin in the Philippines is improving and many filipinos will adopt bitcoin and use them on buying stuffs because as far as I know there are some stores in Philippines that accept bitcoin as a payment which is really cool and it can have positive impact on bitcoin. |
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Yamifoud
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February 12, 2019, 03:18:33 PM |
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As I remember, they are tied up for a certain ICO before which they probably used for their integration with crypto. They are the first bank in the Philippines who used crypto technology without 3rd party involvement and I really sure that Filipinos will used crypto ATM's aside from usual ATM cards we used. This is one great development of crypto in our country and it could be more to follows.
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Mymikagab
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February 12, 2019, 07:51:08 PM |
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I already see this latest news in our country which is Philippines and I think launching ATM for cryptocurrencies will have good impact in our country where many people already use cryptocurrency. If this kind of ATM will be fully launch in our country we can easily convert our cryptocurrency into fiat.
Yeah this is good news to the Filipinos especially to those who are new to cryptocurrency, this is a reason to trust them in bitcoin and in other altcoins. Thanks to the union bank because they are the first one to adopt and i strongly believe that many more to adopt the crypto but step by step just first and in later generations the crypto will adopt worldwide |
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Denton
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February 12, 2019, 08:57:37 PM |
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Such ATMs will be used by a small number of people, but it is still very good that they appear. At first it will not be very relevant, but in the future I think that such ATMs will be almost everywhere.
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Halmater
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February 12, 2019, 08:59:32 PM |
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The placement of Bitcoin ATMs directly by a huge bank is an important indicator of the fact that banks can no longer stand up to the market's demand, and that banks are seriously considering to work in the crypto currency market. I think there is no reason for us not to hear similar news about such developments in 2019.
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andreibi
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February 12, 2019, 09:00:08 PM |
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Such ATMs will be used by a small number of people, but it is still very good that they appear. At first it will not be very relevant, but in the future I think that such ATMs will be almost everywhere.
It's actually just a test, an experiment. It's only one ATM machine. The bank owners are future-oriented and they wanted to be at the forefront of fintech. But they want to see if there's real demand first. |
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Chikitita2004
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February 12, 2019, 10:41:33 PM |
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I think they are not the first one to launch a bitcoin ATM in the Philippines but a bank yes. Well its a good news for Filipinos who are into bitcoins, its a sign they are progressing in cryptocurrency and I believe as time passes by as they see more and more bitcoin ATMs being launched everywhere in the country, adopters will also be more. That will be good for attraction.
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paul00
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February 13, 2019, 01:17:45 AM |
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Such ATMs will be used by a small number of people, but it is still very good that they appear. At first it will not be very relevant, but in the future I think that such ATMs will be almost everywhere.
It's actually just a test, an experiment. It's only one ATM machine. The bank owners are future-oriented and they wanted to be at the forefront of fintech. But they want to see if there's real demand first. As a filipino we should use this machine even though it quite far from our home so that union bank will think and add more bitcoin atm but what if they sync the bitcoin atm to their ordinary atm machine they will inject the software that they are using right now and I think it will cost less because they will not creating a new atm machine but instead just update the software with an bitcoin function. |
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BennyK
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February 13, 2019, 01:23:13 AM |
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Union Bank of the Philippines Launching Cryptocurrency ATM One of the largest banks in the Philippines is reportedly launching a two-way cryptocurrency ATM that is in compliance with Bangko Sentral ng Pilipinas’ specifications. In the Philippines, the central bank regulates cryptocurrencies “when used for delivery of financial services, particularly, for payments and remittances.” https://news.bitcoin.com/union-bank-philippines-cryptocurrency-atm/Another compelling moved that the Philippines is really working hard and getting closer to adopt bitcoin as one of the biggest bank in the country is launching a crypto ATM. Union Bank seems to be spearheading this, and as far as I can remember this bank is one of the first if not the first to integrate Paypal as well in the country. So let's see how it goes. The Philippines and Indonsians are more serious when it comes to cryptocurrency and the governments are doing everything possible to raise the economy through the utilization of Blockchain and cryptocurrency. Building cryptocurrency ATM amongst the Philippines is an important step towards that goal. |
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Natalim
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February 13, 2019, 03:20:29 AM |
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This is a good sign of adoption in the Philippines, bank adopting crypto is a big thing for the space.
With a crypto friendly government, everything is possible and since Unionbank is one of the biggest bank in the Philippines, I'm sure they
will get the attention of an average joe, they won't call bitcoin as scam anymore since they already see a bank backing it.
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BlackPanda
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February 13, 2019, 05:09:35 AM |
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Union Bank of the Philippines Launching Cryptocurrency ATM One of the largest banks in the Philippines is reportedly launching a two-way cryptocurrency ATM that is in compliance with Bangko Sentral ng Pilipinas’ specifications. In the Philippines, the central bank regulates cryptocurrencies “when used for delivery of financial services, particularly, for payments and remittances.” https://news.bitcoin.com/union-bank-philippines-cryptocurrency-atm/Another compelling moved that the Philippines is really working hard and getting closer to adopt bitcoin as one of the biggest bank in the country is launching a crypto ATM. Union Bank seems to be spearheading this, and as far as I can remember this bank is one of the first if not the first to integrate Paypal as well in the country. So let's see how it goes. This is a good step for the development of digital currencies in the Philippines, and even systematically will have a positive impact on the pace of crypto development globally. It needs a lot of growth and also the role of crypto support more, with the opening of ATMs it will make crypto at a much higher level in the global financial system. There must be a continuous increase and then we will feel the benefits |
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raidarksword
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February 13, 2019, 05:16:24 AM |
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Such good news as this is a great leap towards the crypto currency development and adoption in the Philippines. This is to boost the Filipino crypto community to continuously support the future of payments and to widely share good benefits on having crypto currency in any form of social media platforms.
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Caladonian
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February 13, 2019, 05:55:07 AM |
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This is a good sign of adoption in the Philippines, bank adopting crypto is a big thing for the space.
With a crypto friendly government, everything is possible and since Unionbank is one of the biggest bank in the Philippines, I'm sure they
will get the attention of an average joe, they won't call bitcoin as scam anymore since they already see a bank backing it.
I see that coming, since the media's bring bad impressions about bitcoin, as a lots of scam ponzi networking victimized lots of innocents filipinos, this move coming from one of the biggest bank around the country will bring light that bitcoin is not that bad to invest with, we need to promote more about cryptocurrency in order remove those doubts. Good move, if more banks and businesses promotes the use of cryptocurrency inside the country, it will attract additional people to start investing. |
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TobiasVR
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February 13, 2019, 06:18:43 AM |
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Philippines as a country in Southeast Asia is now starting to take good action by launching Crypto ATM. maybe it can be copied by other countries in Southeast Asia and it has become a crypto progress in Southeast Asia.
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proTECH77
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February 13, 2019, 06:29:05 AM |
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Unbelievable, good news from Philippine largest Bank making the right choice in the right direction in launching cryptocurrency ATM across board for her citizen to derv into the world of cryptocurrency with full potentials. This will aim at adoption and acceptance of the blockchain technology whereby other countries will follow suit.
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Seeker#9
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February 13, 2019, 06:39:26 AM |
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The Phillippines is catching up with the rest of crypto friendly nations with the launching of Union Bank's bitcoin atm. Banks have been considered anti cryptocurrency in the past but this local bank even lead the nation's first crypto atm. With this development, the adoption of bitcoin and other cryptocurrencies in the Philippines is boosted further and I hope this event will finally put the country in a crytocurrency map.
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Jating
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February 13, 2019, 09:12:20 AM |
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The Phillippines is catching up with the rest of crypto friendly nations with the launching of Union Bank's bitcoin atm. Banks have been considered anti cryptocurrency in the past but this local bank even lead the nation's first crypto atm. With this development, the adoption of bitcoin and other cryptocurrencies in the Philippines is boosted further and I hope this event will finally put the country in a crytocurrency map.
Right, that's why this news is making a lot of noise, specially coming from one of the largest banks in the country. The country is alrady in the cryptocurrency map because it is already friendly and has amended regulations like AML/KYC for local exchanges. Only the Philippines is only a small country, but it will surely influence the rest of the region and it could boost bitcoin adoption by local merchants and even big stores in the Philippines, it's really very cool if that happen in the future. |
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Moiyah
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February 13, 2019, 11:10:38 AM |
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Another positive adoptation of the said country. They have supported bitcoin through implementing this kind of system. As we all know, many are using bitcoin now through coins.ph (a wallet used accredited by Philippines), it is now more convinient if Union Bank of the Philippines are providing bitcoin ATM machine.
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Baofeng (OP)
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February 14, 2019, 04:00:38 AM |
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If majority of you guys are not aware, the bank has just open last year Union Bank Opens Blockchain Institute. So I don't know if this is just a marketing strategy on their side because it really looks that they wanted to be the first crypto friendly related bank in the Philippines. |
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orions.belt19
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February 14, 2019, 05:10:31 AM |
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If majority of you guys are not aware, the bank has just open last year Union Bank Opens Blockchain Institute. So I don't know if this is just a marketing strategy on their side because it really looks that they wanted to be the first crypto friendly related bank in the Philippines. I think it's a profit related approach. Knowing that the Philippines has a large market for crypto-users, they may have wanted to optimize the opportunity. Other more well known banks have already been open to crypto, as far as I know BPI and BDO, two major banks in the Philippines. I think Union bank is the first one to openly publicized and decided to launch a crypto ATM. It's a bold move for them considering that the Philippines has only been starting to warm up to the concept of crypto. |
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