Union Bank of the Philippines Launching Cryptocurrency ATM - page 5.

Bosx1ne

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Quote from: Baofeng on February 09, 2019, 10:40:44 PM

Union Bank of the Philippines Launching Cryptocurrency ATM

Quote

One of the largest banks in the Philippines is reportedly launching a two-way cryptocurrency ATM that is in compliance with Bangko Sentral ng Pilipinas’ specifications. In the Philippines, the central bank regulates cryptocurrencies “when used for delivery of financial services, particularly, for payments and remittances.”

https://news.bitcoin.com/union-bank-philippines-cryptocurrency-atm/

Another compelling moved that the Philippines is really working hard and getting closer to adopt bitcoin as one of the biggest bank in the country is launching a crypto ATM. Union Bank seems to be spearheading this, and as far as I can remember this bank is one of the first if not the first to integrate Paypal as well in the country. So let's see how it goes.

I'm surprised that even banks are now creating bitcoin atms. I found out that the union bank is one of the popular in the Philippines. It can become attract people in the society to patronize bitcoins because it has power to influence the other people. It is a good news because even banks are now recognizing the benefits of bitcoin.

TravelMug

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Quote from: LogitechMouse on February 19, 2019, 05:07:49 AM

Now I'm thinking of creating of creating account with Union Bank Grin

I think it didn't mentioned in the article that you need to an account in that bank to fully used the bitcoin ATM. But I guess your already positively affected by the marketing of Union Bank, because you're planning to an account already. Grin

Too early to celebrate here, I don't know how many crypto ATM's the Philippines has, and I"m more interested on its actual usability for Filipinos as they have their own beloved coins.ph to buy or sell bitcoin and other crypto's. Although more alternatives the better, I guess.

Johnzky

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Quote from: mk4 on February 10, 2019, 09:58:28 AM

Quote from: Lalafell on February 10, 2019, 09:53:30 AM

If this kind of ATM will be fully launch in our country we can easily convert our cryptocurrency into fiat.

I doubt it. The Philippines already has ye ol reliable and very famous Coins.ph; which is easy enough to convert Philippine peso to bitcoin back and forth with. Why would people use an ATM with higher fees? I only see this news as good due to increased publicity, and it shows that these kinds of businesses are green flags to the government.

And thats why Filipino bitcoiner turns to crypto because of what banks has bring to them so Coin.Ph is enough for the people to have access in bitcoin and need not to go in banks

But atleast this may give another option to the people because there are first bitcoin ATM in philippines located in Makati and Baguio city,now union banks many choices means popularity in future

Caladonian

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Quote from: dongyi17 on February 19, 2019, 06:43:53 AM

Quote from: Baofeng on February 09, 2019, 10:40:44 PM

Union Bank of the Philippines Launching Cryptocurrency ATM

Quote

One of the largest banks in the Philippines is reportedly launching a two-way cryptocurrency ATM that is in compliance with Bangko Sentral ng Pilipinas’ specifications. In the Philippines, the central bank regulates cryptocurrencies “when used for delivery of financial services, particularly, for payments and remittances.”

https://news.bitcoin.com/union-bank-philippines-cryptocurrency-atm/

Another compelling moved that the Philippines is really working hard and getting closer to adopt bitcoin as one of the biggest bank in the country is launching a crypto ATM. Union Bank seems to be spearheading this, and as far as I can remember this bank is one of the first if not the first to integrate Paypal as well in the country. So let's see how it goes.

Yeah, I have a friend working in that company, last year they study how cryptocurrency benefits other people and also union bank is one of the bank that can deposit money in your wallet and can buy bitcoin,eth,xrp and bch from coins.ph.

Integrating the system will make it more easier for users to directly send their funds without using third party business, another one good steps from
country who's still in the progress of development, seeing the potential of crypto to help, opening a bridge for both investors and traders to use this
channel to much lesser process.

Looking forward for more updates and progress.

1Referee

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Quote from: LogitechMouse on February 19, 2019, 05:07:49 AM

I know that some of the banks are against Bitcoin but this bank made moves that they will support crypto.

Banks aren't necessarily against Bitcoin, but it's more so that they don't know how to deal with it legally. There are so many grey areas concerning crypto in general, that it just isn't interesting enough for most banks to dig into this. It's easier to not do anything and let regulators stipple out the 'rules' than to dig into it right now and potentially risk severe sanctions.

Quote from: LogitechMouse on February 19, 2019, 05:07:49 AM

Now I'm thinking of creating of creating account with Union Bank Grin

I assume that you're from Philippines yourself? Even if so, I wouldn't just create a bank account just because of something like this. Read their terms and conditions carefully. More likely, this ATM will not require you to have a bank account there, so it makes creating a Union bank account even more unnecessary.

dongyi17

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Quote from: Baofeng on February 09, 2019, 10:40:44 PM

Union Bank of the Philippines Launching Cryptocurrency ATM

Quote

One of the largest banks in the Philippines is reportedly launching a two-way cryptocurrency ATM that is in compliance with Bangko Sentral ng Pilipinas’ specifications. In the Philippines, the central bank regulates cryptocurrencies “when used for delivery of financial services, particularly, for payments and remittances.”

https://news.bitcoin.com/union-bank-philippines-cryptocurrency-atm/

Another compelling moved that the Philippines is really working hard and getting closer to adopt bitcoin as one of the biggest bank in the country is launching a crypto ATM. Union Bank seems to be spearheading this, and as far as I can remember this bank is one of the first if not the first to integrate Paypal as well in the country. So let's see how it goes.

Yeah, I have a friend working in that company, last year they study how cryptocurrency benefits other people and also union bank is one of the bank that can deposit money in your wallet and can buy bitcoin,eth,xrp and bch from coins.ph.

LogitechMouse

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I know that some of the banks are against Bitcoin but this bank made moves that they will support crypto. Now they are launching crypto ATM. This move will make crypto-investors to open a bank with them. I'm thinking that if this will be a successful one, other banks will copy what they are doing.

Now I'm thinking of creating of creating account with Union Bank Grin

plr

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I am from the Philippines and have not tried to use ATM I am more comfortable using a web service like Coins.ph but if this is something that can fast track the use of cryptocurrency in the Philippines I would like to visit one and use it to compare between the two or use both alternately.

Dreamchaser21

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Quote from: teejayrichard2 on February 14, 2019, 05:56:56 PM

cryptocurrency ATM launched in Phillippines, this is definitely good news for the crypto world. It goes to show bitcoin and cryptocurrency usage is gradually spreading across the globe even faster than what we anticipated. This is just the beginning definitely

I think this is not the first Cryptocurrency ATM machine in the Philippines but anyway since this is a banking institution, its good to know that they started to introduce a machine like this hopefully I will be more secured using this ATM, because if its not you’d better to buy online.

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Quote from: TobiasVR on February 19, 2019, 02:58:02 AM

a good thing if the banks in the Philippines make the latest innovations by launching bitcoin atm, maybe this can inspire many countries to continue to make these innovations.

many already countries are providing bitcoin atm facilities so I think bitcoin will be increasingly known to people and I am sure from that it will have an influence on the price movements of bitcoin and the use of bitcoin will be more and more throughout the world will grow.

micher143

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Quote from: Baofeng on February 09, 2019, 10:40:44 PM

Union Bank of the Philippines Launching Cryptocurrency ATM

Quote

One of the largest banks in the Philippines is reportedly launching a two-way cryptocurrency ATM that is in compliance with Bangko Sentral ng Pilipinas’ specifications. In the Philippines, the central bank regulates cryptocurrencies “when used for delivery of financial services, particularly, for payments and remittances.”

https://news.bitcoin.com/union-bank-philippines-cryptocurrency-atm/

Another compelling moved that the Philippines is really working hard and getting closer to adopt bitcoin as one of the biggest bank in the country is launching a crypto ATM. Union Bank seems to be spearheading this, and as far as I can remember this bank is one of the first if not the first to integrate Paypal as well in the country. So let's see how it goes.

Well, that was a good news to know then. It seems that Asian countries are really making one step at a time getting close on using and regulsting the usage of cryptocurrency in different ways as possible. It is not surprising that Philippines being one of the smallest country in Asia is now turning its head on accepting cryptocurrency because as far as they concern, many Filipinos are already into doing tasks to earn Bitcoin so why not use this opportunity for them to lend a helping hand for the Bitcoin users to have their service about cryptocurrency usage made possible through the coordination of the Union Bank of the Philippines especially made possible by the Bangko Sentral ng Pilipinas. I am looking forward for the success of this launch because it will surely benefit those Bitcoin users and attract people to get engage into cryptocurrency as well.

Yaunfitda

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Quote from: slaman29 on February 14, 2019, 08:14:23 AM

Strange that I couldn't find a single piece of information on the website. I know it's probably not a big deal at all but I was really curious to see if this bank was serious about it. Who knows it starts a wave of SEA banks all offering it? Not that I'd ever buy from an ATM I would like very much to save the 10% fees and get it from a p2p trader, thank you;)

We don't know, but I do hope that it will start a wave all over the SEA banks starting to have their own crypto ATM's. I think it's a big deal because of the reputation of UnionBank itself, may not be the top bank in the Philippines because as far as I know, banking system are a stiff and cut-throat business there.

So this might likely be chance for UnionBank to capitalize the crypto craze in the country by offering ATM. So let us see if other SEA countries will follow as well.

Cherylstar86

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Quote from: steampunkz on February 19, 2019, 02:09:43 AM

Quote from: Baofeng on February 09, 2019, 10:40:44 PM

Union Bank of the Philippines Launching Cryptocurrency ATM

Quote

One of the largest banks in the Philippines is reportedly launching a two-way cryptocurrency ATM that is in compliance with Bangko Sentral ng Pilipinas’ specifications. In the Philippines, the central bank regulates cryptocurrencies “when used for delivery of financial services, particularly, for payments and remittances.”

https://news.bitcoin.com/union-bank-philippines-cryptocurrency-atm/

Another compelling moved that the Philippines is really working hard and getting closer to adopt bitcoin as one of the biggest bank in the country is launching a crypto ATM. Union Bank seems to be spearheading this, and as far as I can remember this bank is one of the first if not the first to integrate Paypal as well in the country. So let's see how it goes.

As far as I know, there are now some active BitcoinATM machines in part of Manila, especially in Makati city. But it's not that famous from cryptocurrency users. I hope union bank can distribute bitcoinATM nationwide in the P.H.

It's such a good news knowing that Philippines is open to this kind of innovation. Union Bank opens great opportunities and help attract other countries and establishments to welcome and accept Cryptocurrency. As one of the established banks in the Philippines it creates a positive impact, to promote, and create such extraordinary influence to the public on the true importance of Cryptocurrency.

TobiasVR

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a good thing if the banks in the Philippines make the latest innovations by launching bitcoin atm, maybe this can inspire many countries to continue to make these innovations.

kelz1

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It's a big deal because it's not from a private company but a regulated bank and the fact that it is a 2 way machine. Great that there is another crypto friendly country now

steampunkz

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Quote from: Baofeng on February 09, 2019, 10:40:44 PM

Union Bank of the Philippines Launching Cryptocurrency ATM

Quote

One of the largest banks in the Philippines is reportedly launching a two-way cryptocurrency ATM that is in compliance with Bangko Sentral ng Pilipinas’ specifications. In the Philippines, the central bank regulates cryptocurrencies “when used for delivery of financial services, particularly, for payments and remittances.”

https://news.bitcoin.com/union-bank-philippines-cryptocurrency-atm/

Another compelling moved that the Philippines is really working hard and getting closer to adopt bitcoin as one of the biggest bank in the country is launching a crypto ATM. Union Bank seems to be spearheading this, and as far as I can remember this bank is one of the first if not the first to integrate Paypal as well in the country. So let's see how it goes.

As far as I know, there are now some active BitcoinATM machines in part of Manila, especially in Makati city. But it's not that famous from cryptocurrency users. I hope union bank can distribute bitcoinATM nationwide in the P.H.

carliexoxo

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Here's a good article on How to use a Bitcoin ATM

Here's their video about it: https://www.youtube.com/watch?v=h6kbUpoAHcA

I'm Thinking they're based on the PH

AAKODI

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Many governments try different things to develop there economy through experiments and what Philippines has done is very radical because this is the time some governments stand against crypto so there decision to allow cryptocurrnecies can be considered as a radical choice but It will be a bold step for Philippines banking industry and also it will give the first foot step to expand and develop cryptocurrencies locally to become them much closer to people with there day to day businesses and other transactions

yusupjatigumilar

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This is the beginning of the banking revolution in the Asian region, this shows that blockchain technology has begun to be looked at and developed by banks where it is a positive sign for the use of cryptocurrencies both as investors and traders. The use of cryptocurrency ATMs will make it easier to transact without limitation of distance and time.

Janation

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Quote from: peter0425 on February 14, 2019, 12:18:10 AM

Quote from: Baofeng on February 13, 2019, 11:00:38 PM

If majority of you guys are not aware, the bank has just open last year Union Bank Opens Blockchain Institute. So I don't know if this is just a marketing strategy on their side because it really looks that they wanted to be the first crypto friendly related bank in the Philippines.

I'm didn't know that there are blockchain institute in the country, so I wouldn't be really surprise if Philippines became one crypto hub specially with the exchanges, their crypto friendly attitude and of course the attitude of their banks.

This may be great but I don't think that is.

First off, I do love cryptocurrencues being accepted in our country and I love to use them as a payment method but the thing is that, it is not the whole Philippines that is accepting it. We live in a province, I know that it is obvious that we will not be able to use Bitcoin there but saying that the whole country accepts Bitcoin is a bit disappointing. There are a lot of people that is like me that can't really use Bitcoin in the real world unless we use a certain exchange, we can't really use our Bitcoins.

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