UnionBank of the Philippines (UnionBank) and Coins.ph, a leading provider of Web 3.0 and digital asset services, have joined forces in a strategic partnership aimed at enhancing accessibility to cryptocurrencies and other emerging asset classes. The memorandum of agreement signing ceremony took place on May 30, 2023, at UnionBank Plaza in Pasig City, solidifying the collaboration between the two entities.
Representatives from Coins.ph, including President David Kao, Chief Financial Officer Lily Chen, and Country Manager for the Philippines Jen Bilango, attended the ceremony along with UnionBank’s Sales Director Bamm Bamm Roxas, Fintech Business Group (FBG) Head Erika Dizon-Go, Relationship Manager Honey Regala, and FBG Assistant Vice President – Sales and Partnerships Gel Enriquez.
Under the partnership, Coins.ph will extend preferential rates for its services to UnionBank’s clients, particularly those in the payments and remittance sectors. The collaboration encompasses four key services provided by Coins.ph: simplified buying, selling, and conversion of cryptocurrencies; spot trading; crypto wallet and custody features; and cash in and cash out functionalities.
Through this partnership, UnionBank aims to help its clients future-proof themselves in light of the increasing adoption of cryptocurrencies and crypto-enabled technologies. The collaboration also seeks to democratize access to cryptocurrencies, promoting wider adoption and scalability of the technology.
Enriquez expressed the bank’s readiness to provide services once the crypto market enters a bullish phase again, emphasizing the importance of being at the forefront alongside their longtime partner Coins.ph. He believes that the partnership will pave the way for a more open and digital future for UnionBank’s clients, communities, and the country as a whole.
Bilango emphasized the goal of making crypto accessible and user-friendly for people to buy, sell, and trade. Through the partnership, Coins.ph aims to build trust and drive broader adoption of cryptocurrencies in the country, unlocking new financial opportunities for the public.
Roxas highlighted the significance of the partnership in expanding the reach of Coins.ph’s crypto offerings through UnionBank’s DBS (Digital Business Solutions) Referral Program, enabling the availability of these services on other platforms. He expressed confidence in the success of this product and the stronger bond forged between Coins.ph and UnionBank.
This collaboration presents UnionBank with an opportunity to broaden its support for the content creation economy through collaborations and partnerships, integrating new services for its clientele. It aligns with UnionBank’s digital service push and its Open Finance Center of Excellence, which welcomes innovation within the ecosystem.
