UnionBank, Coins.ph ink partnership to make crypto more accessible

UnionBank of the Philippines has partnered with digital assets services provider, Coins.ph, to make crypto and other emerging asset classes more accessible to the open market. The partnership was made official through a memorandum of agreement signing ceremony held on May 30, 2023, at the UnionBank Plaza in Pasig City.

The ceremony included representatives from both parties, with President David Kao, Chief Financial Officer Lily Chen, and Country Manager for the Philippines Jen Bilango from Coins.ph, as well as Sales Director Bamm Bamm Roxas, Fintech Business Group (FBG) Head Erika Dizon-Go, Relationship Manager Honey Regala, and FBG Assistant Vice President – Sales and Partnerships Gel Enriquez from UnionBank.

As part of the agreement, Coins.ph will offer preferential rates to UnionBank clients, specifically in the payments and remittance industries.

The partnership covers four key services offered by Coins.ph: simple buying, selling, and conversion; spot trading; crypto wallet and custody features; and cash in and cash out.

Through this partnership, UnionBank will be able to help its clients future-proof themselves, democratize accessibility of cryptocurrencies, and promote adoption of the technology.

IN PHOTO: Representatives from both parties gather for MoA signing. (From left) Lily Chen, Coins.ph CFO; Jen Bilango, Coins.ph country manager; David Kao, Coins.ph president; Bamm Bamm Roxas, UnionBank SVP and sales director; and Erika Dizon-Go, UnionBank SVP, Fintech Business Group and Open Finance and Digital Services Center of Excellence head.

Coins.ph President David Kao said, “We wanted to partner with UnionBank, because at the end of the day, what’s most important for us and for the community at large is to make it accessible and easy for people to buy, sell, and trade crypto. Through this partnership, it allows us to build trust and drive wider adoption of cryptocurrencies in the country, unlocking new financial opportunities for the public.”

UnionBank Sales Director Bamm Bamm Roxas expressed that the new product launch, available under the Bank’s DBS (Digital Business Solutions) Referral Program, is a pivotal moment for the partnership.

The crypto offerings powered by Coins.ph will now be more widely accessible through other platforms, providing UnionBank customers with greater reach. This is also part of Unionbank’s push towards digital services, as it welcomes the innovation ecosystem to the Open Finance Center of Excellence.