Union Bank of the Philippines is set to launch a crypto custody offering for Philippines investors.
The universal bank has contracted Metaco to provide the technology for the service and has gone live on Metaco’s Harmonize platform.
A pilot has been launched that will provide clients with a trading and custody service for bitcoin and Ethereum.
Union Bank was granted a licence by the Philippines central bank earlier this year and claims to be the first bank in the country to offer asset servicing for digital assets.
Swiss fintech Metaco has struck deals with several other asset servicers in the last 12 months, including Citi, BNPO Paribas Securities Services and Societe Generale.
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