philippines unionbank 241122

q1: philippines unionbank

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UnionBank of the Philippines is a major universal bank in the country. It offers a wide range of financial services, including consumer, corporate, and investment banking. The bank has been proactive in digital banking, launching UnionDigital, its fully digital banking unit, and also entering the cryptocurrency space. Notably, UnionBank was one of the first Filipino financial institutions to release its own stablecoin (PHX) in 2019, aiming to facilitate remittance and payments, particularly for rural banks .

Additionally, UnionBank has expanded its services through acquisitions, such as its purchase of Citi’s consumer banking business in the Philippines, which further strengthened its presence in the market