[NEWS] Union Bank To Launch Peso Stable Coin (UPHP) (UPDATE: it's called PHX)

[Bttzed03]

May mga bagong info na dinagdag sa article. Kung hindi niyo pa nabasa, ito yung ilan lamang sa dinagdag noong May 28. 2019:

Peso Stablecoin will be running through UnionBank’s i2i, the bank’s blockchain platform which is built on Consensys’ Kaleido platform

UPHP is designed to be interoperable and can be used by any BSP compliant platform intended to transfer value between blockchain-enabled wallets and also other fiat wallets. This interoperability will also allow UPHP to be available for cross-border transactions across various regulatory approved exchanges globally.

He cited platforms like UnionBank’s i2i Rural Bank, blockchain-based remittance “bank-in-a-box” platform, BSP-approved virtual currency exchanges, or BSP-approved token-enabled mobile apps, to name a few locally. However, this UPHP is also going to be available on global platforms in the future.

Visit article na lang ulit sa OP para sa buong updates.

[Bttzed03]

The OP has been updated to include the additions to the article last May 28,2019. I will continue to update this thread kung merong bagong impormasyon na idadagdag sa article.

[micko09]

nag create sila ng coin at ginawa nila itong stable coin, dahil ayaw nila sumabay sa bilis ng galaw ng cryptocurrency, ibig sabihin useless kung mag hohold ka dahil stable coin to. kung baga eto lang ung way ng unionbank pang backed up sa fiat currency.. parang useless lang din. sana fiat nalang din, pahihirapan pa nila mag convert ung gagamit ng stable coin.

[crairezx20]

Kailan daw ba irerelease to mga boss? Mukang maganda naman to kahit stable.

nag create sila ng coin at ginawa nila itong stable coin, dahil ayaw nila sumabay sa bilis ng galaw ng cryptocurrency, ibig sabihin useless kung mag hohold ka dahil stable coin to. kung baga eto lang ung way ng unionbank pang backed up sa fiat currency.. parang useless lang din. sana fiat nalang din, pahihirapan pa nila mag convert ung gagamit ng stable coin.

Hindi naman kailangan maging parehas ito sa ibang altcoin na hindi stable ang kinaganda ng stable na coin kung dito yan sa pinas mas mappadali ang withdrawal ng mga coins natin dahil sa stable coin na to at hawak pa ng isang banko so may possiblidad na gamitin ito at mag karon tayo ng sarling ATM cards from this stable coin withdraw to our Debit card to atm? Diba yun ang sa palagay kong mang yayari about this stable coin ng unionbank.

[Bttzed03]

UPDATE:

The very first Philippine Stable coin has been launched and it's called PHX (not UPHP as reported in previous months). Mukhang limited pa kung sino pwede at hindi tradable sa ngayon. Ewan ko lang kung magiging available ito sa coinspro balang araw.

UnionBank of the Philippines launched the stablecoin called PHX to facilitate a blockchain-based cross-border remittance transaction. In doing so, it makes them the first bank in the Philippines to launch a stablecoin and conduct remittances via blockchain.

https://bitpinas.com/news/unionbank-launches-cryptocurrency-stablecoin-phx/

[Rufsilf]

UPDATE:

The very first Philippine Stable coin has been launched and it's called PHX (not UPHP as reported in previous months). Mukhang limited pa kung sino pwede at hindi tradable sa ngayon. Ewan ko lang kung magiging available ito sa coinspro balang araw.

UnionBank of the Philippines launched the stablecoin called PHX to facilitate a blockchain-based cross-border remittance transaction. In doing so, it makes them the first bank in the Philippines to launch a stablecoin and conduct remittances via blockchain.

https://bitpinas.com/news/unionbank-launches-cryptocurrency-stablecoin-phx/

Nakakamangha lang isipin that one bank dito sa Pinas ay nkapag launched na ng stable coin which can help na mapadali ang transactions through blockchain, though limited lang sya for rural banks and tama ka it’s not available to everyone it’s only available sa mga project i2i participants nila, bago padin naman kasi kaya parang nasa testing stage padin sila ka coin.