The Union Bank of the Philippines (Unionbank) will offer a crypto custody service, in collaboration with Hex Trust, a leading Asian digital asset custodian.
The bank says the product is in full compliance with the Bangko Sentral ng Pilipinas (BSP).
Hex Trust provides banks, financial institutions, asset managers, exchanges, and corporations with a proprietary bank-grade crypto custody platform called Hex Safe.
The platform supports over 100 coins and tokens from the top 10 blockchain protocols, and security tokens built on Ethereum, Tezos, and Corda.
Among supported cryptocurrencies are bitcoin, ether, bitcoin cash, litecoin, tether, and XRP.
Hex Trust will initially pilot digital asset custody to Unionbank’s employees before launching a fully commercialized digital asset custody service for Unionbank customers.
Unionbank sees the digital asset space maturing with an increasing number of customers and institutional investors showing interest in digital assets and the blockchain.
In early 2019, the bank installed a bitcoin ATM at one of its main branches.


Bank of Japan Unveils New Inflation Gauge to Support Case for Future Rate Hikes
Ethereum’s $2,200 Ceiling: Can Diplomatic Breakthroughs Dissolve the Bearish Resistance?
Bitcoin Reclaims USD 71,000 Milestone: Bullish Sentiment Resurges as Geopolitical Tensions Ease
Ethereum Retreats in Bitcoin’s Shadow: ETH/USD Tests Critical Support at USD 2,075
Oil Prices Climb as Iran Reviews U.S. Peace Proposal Amid Middle East Tensions
Dollar Strengthens as U.S.-Iran Peace Talks Send Mixed Signals
Oil Prices Slip as Middle East Tensions Ease, Heading for Weekly Loss
U.S. Oil Prices Slide as Middle East Ceasefire Talks Spark Market Optimism
Asian Markets Rally as Oil Prices Tumble and Middle East Peace Hopes Emerge
WTO Reform Talks Begin in Cameroon Amid Global Trade Tensions
Currency Markets Show Caution Amid U.S.-Iran Negotiations
Federal Reserve Balance Sheet Reduction: Brookings Research Outlines Possible Path Forward 



