REYNALDO C. LUGTU, JR.
Locally, Union Bank of the Philippines launched in 2018 the first blockchain-based platform for a fast and cost-effective way to communicate policy and procedural guidelines and regulatory requirements. In July this year, Unionbank successfully piloted the transfer tokenized fiat from OCBC Bank in Singapore to an account in Cantilan Bank, a Surigao Del Sur-based rural lender via UnionBank’s blockchain platform.