Largest Bank in the Phlippines Showcases Bitcoin Mining Equipment Bitcoin Mining Hardware Philippines

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Largest Bank in the Phlippines Showcases Bitcoin Mining Equipment

Largest Bank in the Phlippines Showcases Bitcoin Mining Equipment Bitcoin Mining Hardware Philippines

Financial institutions all over the world are interested in Bitcoin.

recently demonstrated its cryptocurrency miners at a business conference. That is an interesting development, considering how the world’s leading cryptocurrency is a legal tender in the country.  When the biggest bank in The Philippines gets into Bitcoin, an interesting tone is set.

The Philippines have always been a key region for Bitcoin. It is home to a few remittance services which rely on cryptocurrency. Moreover, the government made it clear Bitcoin can be used for remittance purposes. It is a validation of the world’s leading cryptocurrency being used for real-world use cases. So far, the

is one of the only countries to take this specific step in recent years.

Unionbank, the biggest bank in the country, recently showcased cryptocurrency miners during a business conference.While that may not seem important, it is another nod of approval toward cryptocurrency. While not a Bitcoin mining unit, it does show the institution is interested in cryptocurrencies.

When the CEO of a top bank in the Philippines runs

miners at a business conference, you know we're headed in the right direction 😉

How this venture will pan out exactly, remains a bit unclear. To this date, the bank has not confirmed it is involved in any cryptocurrency mining operation just yet. Even so, they are quite confident cryptocurrencies here to stay. More and more banks are getting on the cryptocurrency bandwagon these days. Ranging from trading desks to mining operations, things are certainly heading in an interesting direction.

It is not the first time Unionbank shows an interest in cryptocurrency or its underpinning technology. Earlier this year, the institution announced a blockchain payment system. This

is launched together with Visa. Although that feature does not involve cryptocurrencies, it shows its underpinning technology can effectively transform business models in the Philippines.

cryptocurrency companies are allowed to operate in a licensed environment. Surprisingly Bitcoin Mining Hardware Philippines , cryptocurrency companies are allowed to operate in a licensed environment. Surprisingly, this venture attracted a lot of attention from international firms. Especially companies from Japan, Malaysia, and Hong Kong are interested in this option. The economic zone accommodates all business models, including exchanges, mining, and initial coin offerings.

All of this is in stark contrast with a slight crackdown on Bitcoin users. The Philippine National Police has arrested Bitcoiners before. This was mainly due to allegations regarding running a Ponzi Scheme. Additionally, cloud mining is still somewhat frowned upon in this country. The Bitcoin situation in the Philippines is heading in an interesting direction right now. Unionbank’s recent “endorsement” is another surprising development in this regard.

Largest Bank in the Phlippines Showcases Bitcoin Mining Equipment

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