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Stablecoin issuer Circle has teamed up with Coins.ph, a major Philippine crypto exchange and crypto wallet provider, to enhance financial inclusion and improve remittances in the Philippines.
Philippine’s Union Bank has become the first and only bank in the country to receive a license from the Bangko Sentral ng Pilipinas (BSP) to operate as a virtual asset service provider (VASP).
In the era of financial digitalization, the Chainalysis Global Crypto Adoption Index for 2023 stands as a pivotal resource, charting the nuanced ways countries are embracing cryptocurrency based on their unique socio-economic factors.
China is planning to showcase its digital yuan to the ASEAN nations, and could seek to make “cross-regional use” of its CBDC in the bloc.
SBI Remit, a subsidiary of Japanese financial conglomerate SBI Group, has partnered with SBI Ripple Asia to introduce Ripple’s XRP-enabled international remittance solution to bank accounts in the Philippines, Vietnam and Indonesia.
A report from the United Nations Human Rights Office revealed that “hundreds of thousands of people” across Southeast Asian countries are being “forced” by organized criminal gangs to engage in online scams including cryptocurrency frauds and illegal gambling schemes.
The Philippine police has raised alarms on blockchain gaming saying it may be riskier than investing in cryptocurrencies if capitalized by bad actors.