Topic: Union Bank to released "Stable Coin" - page 2. (Read 353 times)
I clicked on the link and did not understand how the coin would be stable in order to have a good stable exchange rate, in gold, Bitcoin or a dollar. As for me, PR from the bank and no more.
When I saw the topic of this thread, I rushed to open it because there is a Union Bank in my country but immediately I saw the colour and logo, I rushed to check it out but this isn't the Union Bank in my own country, this is definitely good news for crypto, more adoption and recognition is definitely a plus.
There are still banks who are very optimistic about cryptocurrency. One of those is the Union Bank of the Philippines. Before, they launched ATM machines which indicates that they are supporting bitcoin and can possibly step forward about mass adoption. This creates positive impact about blockchain technology.
Aside from that, Union Bank confirms that they will now releasing their own "Stable Coin".. They want to minimize the volatility which bitcoin and other coins are giving, that is why they have decided to make a stable coin. Take note that they are now have a permit from BSP (Bangko Sentral ng Pilipinas) which approves virtual currency exchanges and other money/financial issues.
This is an overview of their stable coin:
Quote
Project i2i—or island-to-island, institution-to-institution, and individual-to-individual—is UnionBank’s clearing system that connects rural banks through blockchain technology
This somehow excites me, I know there are a lot of stable coin now in the crypto market. But knowing our prestigous Bank (Union Bank) is launching this kind of crypto stable coin makes me realized that mass adoption is really near to achieved especially in our country.
This is the link if you want to further read the news.
Jump to: