The UnionBank of the Philippines, one of the leading financial institutions in the country, has launched a two-way bitcoin automated teller machine (ATM), according to a story in local media outlet Philstar.
This is the country’s second crypto ATM that provides users with the ability to sell and purchase digital assets like bitcoin for pesos, the country’s official currency. The country’s first bitcoin machine was installed in Manila by BitCoiniacs in 2015.
The UnionBank has reportedly collaborated with the Filipino Central Bank, Bangko Sentral ng Pilipinas (BSP).
UnionBank, the country’s seventh largest bank told Philstar, “In the bank’s continued quest to cater to the evolving needs and tastes of customers, including clients who use virtual currency, the ATM will provide these clients an alternative channel to convert their pesos to virtual currency and vice versa.”
So far, the bank hasn’t mentioned its intention to deploy more ATMs in the future, but it will be…