NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Report: Philippines-Based Banking Giant Launching Two-Way Crypto ATMs

Nick Chong
Nick Chong
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

When you think of nations with a notable Bitcoin ecosystem, many crypto investors would immediately think of the U.S., Malta, Singapore, Japan, and South Korea. Yet, many draw little attention to the Philippines, a nation that is seemingly filled to the brim with cryptocurrency users.

A large financial institution based in the Philippines made a notable pro-crypto move last week — one that could potentially spark widespread adoption within the Asian nation.

Meet Union Bank’s Crypto ATMs

According to reports from Filipino media, Union Bank of the Philippines, a banking giant that is the seventh largest in the country, is launching crypto asset automated teller machines (ATM). The Philippine Star, who broke the news on the matter, cited a Union Bank press statement.

Related Reading: Are Bitcoin ATMs Driving Adoption, Criminality, or Consumerism?

Per the statement, the company launched its first two-way cryptocurrency ATM earlier this week, allowing customers to purchase and sell assets like Bitcoin for pesos. Union Bank has purportedly collaborated with the Bangko Sentral ng Pilipinas (BSP), the nation’s central bank, to ensure that this newfangled offering is compliant. The Manila-headquartered institution, which has over 300 branches smattered across metropolises and the countryside, remarked:

“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.”

In a comment on Twitter, NewsBTC’s Joseph Young remarked that Union Bank’s proactivity in the crypto space is not only good for regulation, but for awareness and adoption too.

HUGE: Union Bank of the Philippines is reportedly launching two-way crypto ATMs in the Philippines.

UB is one of the largest banks in the Philippines and has been proactive in the crypto space.

Good for crypto regulation, adoption, and awareness.https://t.co/YTVHnKzRZh

— Joseph Young (@iamjosephyoung) February 10, 2019

No reports indicate that Union Bank has plans to inaugurate more than a few Bitcoin-friendly ATMs at the moment. Regardless, this move only underscores the growing industry theme of ATMs that cast aside the shackles of the traditional financial system, which include fiat and payments processors like Visa and Mastercard.

Per previous reports from NewsBTC, Bitcoin Depot, a subsidiary of Lux Vending, is looking to prop up 30 ATMs in Chicago that support Bitcoin, Ethereum, and other digital assets in the coming months. While these efforts are centered around Chicago, a little-known crypto hotspot that hosts ErisX, hype regarding brick and mortar crypto purchases is a global trend, as there are now over 4,323 of these machines worldwide. And according to data from CoinATMRadar, this number is swelling by 5.6 each and every day.

Fiat To Crypto On-Ramps To Boost Bitcoin Over 2019

This venture in the Philippines comes as Fundstrat’s research team, which includes Rob Sluymer and Tom Lee, claimed that the rise in the fiat-to-crypto on-ramp sector will be a positive catalyst for Bitcoin in the coming year. According to a sneak peek of a Fundstrat report, the New York investment advisory outfit noted that influx of consumer interest in Bitcoin may be catalyzed by Binance’s recent addition of credit card crypto purchasing capabilities, along with other fiat-supported infrastructure from other upstarts.

Featured Image from Shutterstock
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Акции Chainlink выросли почти на 12%

Chainlink вырос почти на 12% за последнюю неделю, поскольку данные ончейн показывают, что инвесторы непрерывно выводят средства с бирж. Чистый...

lisachaikina 2 hours ago
TRON Defies Market Dip as USDT Activity and Drawdown Metric Signal Growth

TRON Defies Market Dip as USDT Activity and Drawdown Metric Signal Growth

While the broader crypto market experienced a downturn with a 2.7% decline in total market cap over the past 24...

Samuel Edyme 3 hours ago
Ethereum

Ethereum In Demand: ETF Inflow Streak Extends To 7 Weeks

Institutional demand for Ethereum appears strong as spot exchange-traded funds (ETFs) have recorded seventh-straight week of inflows. US Ethereum Spot...

Keshav Verma 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

STurning the Tide: How APT Miners Provide XRP and DOGE Investors with Continuous Tokens

News BTC 12 minutes ago

PENGU爆量起飛42%價格突破0.0145美元 BTCBULL預售780萬最後FOMO階段!

Kelvin Lee 1 hour ago
Bitcoin, Crypto, BTC

Bitcoin Holds Key Level Amid $108,000 Rejection, But Analysts Suggest Caution This Quarter

Rubmar Garcia 2 hours ago

Premium Sponsors

Press Releases

  • Ethereum Enthusiasts Easily Earn a Stable Daily Income of...

    10 hours ago
  • Hledáte nejlepší kryptoměny k nákupu v roce 2025

    Hledáte nejlepší kryptoměny k nákupu v roce 2025? Tady...

    12 hours ago
  • Cauți cele mai bune criptomonede de cumpărat în 2025?...

    13 hours ago
  • Tražite najbolje kriptovalute za kupnju u 2025. 4 top izbora za vaš portfelj

    Tražite najbolje kriptovalute za kupnju u 2025.? 4 top...

    13 hours ago
  • 今が狙い目の割安アルトコイン特集|注目すべき銘柄をチェック!

    ...

    17 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.