UnionBank launches 2-way Bitcoin ATM in Philippines

posted 6 months ago
UnionBank of Philippines, the country’s 7th largest bank, launched a 2-way Bitcoin ATM, it's located in the upscale area of Makati. This is the country's 2nd Bitcoin ATM that provides users with the ability to buy and sell Bitcoin for pesos, the country’s official currency. The country's first Bitcoin machine was installed in Manila by BitCoiniacs in 2015.

UnionBank said “In the bank’s continued quest to cater to the evolving needs and tastes of customers, including clients who use virtual currency, the ATM will provide these clients an alternative channel to convert their pesos to virtual currency and vice versa.” Notably, Phils is the world's 3rd largest receiver of remittances, 10% of its GDP.
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