Blockchain
UnionBank is Retail Banker International’s Asia Pacific Retail Bank of the Year 2020
Union Bank of the Philippines (UnionBank) was declared the winner of Asia Pacific Retail Bank of the Year at the recent 35th Annual Retail Banking International Global Awards in London.
At the virtual awards ceremony that honored the best of the best in global retail banking, UnionBank was cited for its key initiatives particularly for the fintech ecosystem, serving as a leader in industry associations such as the Fintech Philippines Association and Distributed Ledger Technology Association of the Philippines and supporting various conferences, meet-ups, mixers and hackathons for the community.
UnionBank partners with top fintechs in the Philippines and other parts of the world to tech up small and medium enterprises (SMEs) which are constrained in terms of resources and access to pursue digitization.
By vetting and partnering with fintechs including those for human resources, payments, financing and APIs, among others, the bank was able to extend services to small and medium enterprises that they would otherwise not have access to.
In addition, UnionBank also has the largest API marketplace in the country, which now has over 300 APIs and over P3 billion worth of transactions. This allows the bank to openly collaborate with fintechs and tech companies, at speed and scale, on various projects.
Recently, UnionBank has also collaborated with blockchain-based platform Adhara and OCBC bank in Singapore to create a blockchain-powered remittance service aimed at better cross-border remittances and broader financial inclusion for overseas workers and their loved ones in the Philippines.
Through its wholly owned subsidiary—UBX—UnionBank invests in startups and fintechs that are in line with its transformation roadmap. These include logistics platform XLOG and Philippine digital asset exchange PDAX, among others.
The bank also has various institutions and programs to upskill and encourage innovation within the bank, its partners, and the developer community such as the institutes for blockchain and data science and artificial intelligence.
In a statement, Retail Banker International editor and chair of the judges Douglas Blakey said despite the pandemic, when there are more important priorities for banks than awards, there is genuine innovation and product investment going on that deserves to be recognized.
SOURCE Union Bank of the Philippines
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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