UnionBank’s rolling out of a crypto trading feature in its app earned a praise from web3 leaders Eliezer Rabadon and Jopet Arias, who see major potential for retail and corporate users alike.
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Some users now see a “Buy/Sell Crypto” option — but access is limited and gated by a strict assessment.
PHPX aims to enhance cross-border payments, especially for remittances, while supporting stablecoin interoperability
These expectations highlight the need for local exchanges to prioritize accessibility, innovation, and user trust to remain competitive and drive mass adoption in 2025.
The initiative aims to offer easier and cheaper cross-border payments and foreign exchange transactions using stablecoins such as USDC.
UBX will utilize the Polygon blockchain to develop a stablecoin for cost efficiency and faster transaction.
![[Breaking] UnionBank Secures Full VASP Crypto Exchange License from the BSP](https://bitpinas.com/wp-content/uploads/2023/09/BSP-and-UnionBank-1-1-768x432.png "[Breaking] UnionBank Secures Full VASP Crypto Exchange License from the BSP 8")
UnionBank becomes the first universal bank in the Philippines to secure a VASP license from the BSP.
By involving the banks that hold significant market share, the BSP said it aims to have more substantial findings and results for its pilot CBDC project.
Discover the emerging landscape of Peso-Backed Stablecoins in the Philippines.
