Philippines Central Bank Warns on Risks of Growing Cryptocurrency Use
The Bangko Sentral ng Pilipinas will continue to regulate cryptocurrency use in the country, senior officials have said.
European money transfer service Azimo is tapping Ripple's On-Demand Liquidity and XRP to speed up remittances to the Southeast Asian nation.
Many southeast Asians consumers are interested in establishing or increasing their crypto investments, according to the OECD, but also admit to not really understanding them.
The blockchain firm is part of an 11,000 strong network of cash-out counters launched by UnionBank of the Philippines.
Investment app provider Abra is to sell cryptocurrency for cash at 6,000 outlets across the Philippines, including all 7-Eleven stores.
The group ran its first transaction between three rural banks in an effort to improve its remittance offerings.