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Partnership Between UnionBank and OCBC Bank Hopes to Serve the Unbanked Population of the Philippines

Sofia Cabrera

Summary: UnionBank, based in the Philippines, partnered with OCBC Bank, based in Singapore, to develop a blockchain-based cross-border remittance from Philippine to Singapore. The banks have effectively completed their trial run of the software. The workings of the software, include a blockchain-based tokenized fiat to transfer from OCBC Bank to a rural Caitlan Bank account. The ...

UnionBank, based in the Philippines, partnered with OCBC Bank, based in Singapore, to develop a blockchain-based cross-border remittance from Philippine to Singapore. The banks have effectively completed their trial run of the software. The workings of the software, include a blockchain-based tokenized fiat to transfer from OCBC Bank to a rural Caitlan Bank account. The mission of both banks is to provide the unbanked population of the Philippines the ability to use financial services.  


Author: Sofia Cabrera


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