Financial institutions all over the world are interested in Bitcoin. UnionBank recently demonstrated its cryptocurrency miners at a business conference. That is an interesting development, considering how the world’s leading cryptocurrency is a legal tender in the country. When the biggest bank in The Philippines gets into Bitcoin, an interesting tone is set.
Unionbank and CryptocurrencyThe Philippines have always been a key region for Bitcoin. It is home to a few remittance services which rely on cryptocurrency. Moreover, the government made it clear Bitcoin can be used for remittance purposes. It is a validation of the world’s leading cryptocurrency being used for real-world use cases. So far, the Philippines is one of the only countries to take this specific step in recent years.
Unionbank, the biggest bank in the country, recently showcased cryptocurrency miners during a business conference.While that may not seem important, it is another nod of approval toward cryptocurrency. While not a Bitcoin mining unit, it does show the institution is interested in cryptocurrencies.
When the CEO of a top bank in the Philippines runs #Bitcoin miners at a business conference, you know we're headed in the right direction
