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IMF Urges Philippines’ Central Bank to Collect Crypto Exchange Data

News The International Monetary Fund (IMF) has encouraged the Philippines’ central bank to explore the possibility of starting to collect data on cross-border flows of crypto assets. The IMF made the recommendation in a Technical Assistance Report paper, released Dec. 30, 2019, and based on data f..

Ripple-Based Remittance Firm SendFriend Claims to Save Up to 80% in Fees

News Blockchain-based money transfer startup SendFriend utilizes Ripple’s technology to save up to 80% in remittance fees, according to a blog post published on Dec. 12. SendFriend uses Ripple’s xRapid product for cross-border payments, converting between the United States dollar, XRP and Philippi..

ConsenSys Is Reportedly Shutting Down Offices in India and the Philippines

News Consensys founder Joseph Lubin has reportedly informed teams in India and the Philippines that their offices will be closing down. On Dec. 11, Coindesk reported that sources familiar with the matter confirmed that the local offices in India and the Philippines would indeed be shut down, howev..

Philippines and BCB Blockchain to Work Together on Smart Cities

News Singapore-based blockchain firm BCB Blockchain has signed a memorandum of agreement (MoA) with a branch of the Philippines’ Department of Science and Technology (DOST) to support the development of local smart cities. Per a Nov. 23 press release, BCB Blockchain contributed $300,000 to support..

No Rush to Pass Fintech Laws: Philippine Senator Grace Poe

News Philippine Senator Grace Poe said that local lawmakers should not be in a hurry to pass financial technology (fintech) regulation. Local news outlet Rappler reported on Sept. 23 that Poe made her remarks after a hearing by the Senate Committee on Banks, Financial Institutions and Currencies. ..

All 7-Eleven Stores Across the Philippines Now Sell Bitcoin

News Cryptocurrency investment app Abra starts selling crypto for cash in all 7-Eleven stores across the Philippines with a new partnership with payment processor ECPay. Crypto in 6,000 outlets in the PhilippinesAbra announced on Sept. 18 that the partnership will bring crypto to 6,000 retail outl..

Report: Philippine Police Raid Alleged Cryptocurrency Scam, Arrest 277

News Philippine police have reportedly raided the offices of an alleged cryptocurrency scam that was targeting investors in China. According to a Sept. 15 report by local news outlet Inquirer.net, agents from the Bureau of Immigration, the Presidential Anti-Corruption Commission and the National P..

Philippine Boxing Champion Manny Pacquiao Releases Own Cryptocurrency

News Philippine boxing champion and celebrity Manny Pacquiao has launched his own cryptocurrency. On Sept. 1, the South China Morning Post reported that the Filipino boxer turned politician and singer launched his own token with the financial support of private investors such as ex-Liverpool and E..

Philippines Increasingly Crypto Friendly – A Look at Driving Forces

There are many reasons why the Philippines is becoming increasingly crypto-friendly. Not only has its central bank registered more crypto exchanges recently, but the Securities and Exchange Commission has also been actively finalizing crypto guidelines. The country has an active crypto community, an..

Unionbank of the Philippines: Launches Peso-Backed Cryptocurrency

Unionbank of the Philippines recently continued its sortie into the cryptocurrency and blockchain space, electing to launch a digital asset that is aiming to achieve “stablecoin” status. While it is unlikely that the project, dubbed PHX, emulates the decentralized nature of Bitcoin and other grassr..

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