#Philippines News

Axie Infinity (AXS) Registers a Triple-digit Price Rally

Philippines Regulator Instructs Axie Infinity Players to Pay Taxes on Income Made from In-Game Assets

August 25, 2021 by Aisshwarya Tiwari at Regulation

The Philippines financial regulator has not taken kindly to people making money off of blockbuster blockchain-based game Axie Infinity. Income Made via Axie Infinity is Taxable The Department of Finance (DOF) of the Philippines has warned the players of the popular blockchain-based game Axie Infinity that they must pay taxes...

Philippines Bank Joining Digital Currency Race

Philippines Central Bank Keen on Joining Digital Currency Race

September 21, 2020 by Aisshwarya Tiwari at Regulation

The Philippines is keen on joining the digital currency bandwagon. Blockchain Technology Could Help with Digital Money According to a recent report by Bloomberg, Philippine central bank Governor, Benjamin Diokno, put his weight behind emerging technologies – including distributed ledger technology (DLT) – in their potential to improve the delivery...

Smartphone with Ripple coming out of the screen

UnionBank Collaborates With Ripple Partner to Offer Remittance Services to the Unbanked

June 23, 2020 by Anthonia Isichei at Altcoins

The UnionBank of the Philippines, one of the Philippines’ major banks, partnered with a cryptocurrency remittance platform and Ripple partner, Coins.ph, to introduce a cash-out network to enable make it easier for citizens to send money abroad. UnionBank and Coins.ph to Provide Financial Access to the Unbanked According to a...

Joe Lubin’s ConsenSys Reportedly Shutters Operations in India and Philippines

December 12, 2019 by Aisshwarya Tiwari at Ethereum

Ethereum blockchain development firm ConsenSys has reportedly shuttered its operations in India and Philippines “due to a realignment of the sales and services team” in the two countries. This, according to a report by Coindesk, December 11, 2019. Company Realignment to Blame Joe Lubin, one of the co-founders of Ethereum...

Abra Takes Bitcoin Adoption to 6,000 Retail Outlets in the Philippines

September 19, 2019 by Osato Avan-Nomayo at Bitcoin

Bitcoin wallet provider and investment platform Abra says people can now buy cryptocurrencies at any 7-Eleven outlet in the Philippines. The news is the latest development in efforts to make cryptocurrencies more easily accessible to users in markets across the world. Buy Bitcoin at Any 7-Eleven in the Philippines Abra...

Philippines Central Bank Greenlights More Cryptocurrency Exchanges

August 20, 2019 by Osato Avan-Nomayo at Regulation

Local Philippines media outlet Philstar Global is reporting that a couple of cryptocurrency exchanges have obtained authorization from the country’s central bank. This development follows similar approvals gotten by close to a dozen platforms in recent time. Several countries in Southeast Asia continue to adopt a friendly approach towards the...

Union Bank Launches Programmable Cryptocurrency

July 26, 2019 by Ashwath Balakrishnan at Blockchain

Union Bank in the Philippines, funded by Aboitiz Equity Ventures, has launched a stablecoin with the ticker PHX. In doing so, Union Bank has become the first bank in the country to conduct transactions via a blockchain. PHX transactions are being implemented a platform specifically meant to connect listed banks...

A man carrying remitance payments in a blockchain blockch dollar bags from singapore to philippines

Philippines: Union Bank Facilitates First Blockchain-Based Remittance

July 23, 2019 by Ogwu Osaemezu Emmanuel at Blockchain

Union Bank of the Philippines has joined forces with OCBC Bank of Singapore to facilitate a cross-border transfer from Singapore to the Philippines using the Ethereum-powered Adhara liquidity management, and international payments platform its (Unionbank) proprietary i21 platform, reports local news source Fintech Singapore on July 23, 2019. Union Bank...

Phillippines Department of Trade and Industry Ink MOU with American Blockchain Firm

June 21, 2019 by Ogwu Osaemezu Emmanuel at Blockchain

The Philippines’ Department of Trade and Industry (DTI), has signed a memorandum of understanding (MOU) with Monsoon Blockchain Storage Inc., a U.S.-based firm that specializes in cloud data storage optimization. The two are aiming at enhancing capacity building and institutional development on the effective use of the distributed ledger technology...

Blockchain Firms Tackling Plastic Pollution with Cryptocurrency

June 14, 2019 by Ogwu Osaemezu Emmanuel at Altcoins

Bounties Network, an Ethereum-powered platform that claims to make it possible for people to collaboratively execute tasks and get paid in ether (ETH), has launched a plastic waste eradication program in the Philippines’ Manila Bay beach, according to a BBC report on June 13, 2019. Crowdsourcing Waste Management Manila Bay...

Philippine’s Union Bank Launch of Crypto ATM Could Fuel Bitcoin Adoption

February 12, 2019 by Tom Nyarunda at Adoption, Bitcoin, Business, Development, Regulation

The Union Bank of Philippines, one of the country’s largest banks, is unveiling two cryptocurrency ATMs. The initiative from Union Bank has the blessings of the country’s central bank, Bangko Sentral ng Pilipinas (BSP). The move is likely to promote Bitcoin adoption in a country that has already adopted a proactive approach...

Green CoinText Smartphone running with a Brown Block

CoinText Enables SMS-Based Cryptocurrency Transactions Expands to the Philippines

January 4, 2019 by Nuno Menezes at Adoption, Altcoins, Bitcoin, Business, Development, News, Platform

On January 3, 2018, CoinText.io, a service that provides a service enabling users to send and receive cryptocurrency using text messages, announced it was enabling its Bitcoin Cash (BCH) wallet in the Philippines reported Yahoo Finance. Simplifying the Use of Cryptocurrency CoinText is an innovative service that allows users to send...

Phillipines Considers Exchange Guidelines Ahead of Unveiling ICO Laws

September 6, 2018 by contributor at Altcoins, Bitcoin, Exchange, Finance, News, Regulation

Following the footsteps of regional developments in South East Asia, the Philippines Security and Exchange Commission could soon pass relevant laws for the operation of cryptocurrency exchanges in the country, Manila Times reported September 3, 2018. Philippines’ Crypto Push Amidst growing interest in cryptocurrency and related businesses, the SEC observed...

Crypto-Friendly Philippines Central Bank Approve two Cryptocurrency Exchanges

July 10, 2018 by Ogwu Osaemezu Emmanuel at Adoption, Altcoins, Bitcoin, Exchange, Finance, News, Regulation

Acknowledging the potential of digital currencies to drive accelerated and cost-effective transactions, Bangko Sentral ng Pilipinas (BSP), the Central Bank of the Philippines, has approved two new cryptocurrency exchanges, according to a Business World report. Getting the Green Light The BSP Deputy Governor Chuchi Fonacier indicated that the exchanges Virtual...

Rural Banks in the Philippines use ConsenSys Ethereum Blockchain System to Facilitate Real-time Transactions

Rural Banks in the Philippines to use ConsenSys’ Ethereum Blockchain System to Facilitate Real-time Transactions

June 1, 2018 by Ogwu Osaemezu Emmanuel at Blockchain, Business, Finance, News, Tech

On May 27, 2018, ConsenSyS announced the selection of five rural banks in the crypto-friendly Philippines to try out its blockchain-based real-time payments solution. Banking the Unbanked The Union Bank of the Philippines has joined forces with the ConsenSyS blockchain startup to change the faces of five rural banks in...

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