UnionBank launches a stablecoin and conducts the Philippines’ first bank blockchain transaction
The Philipines’ UnionBank has issued its own stablecoin, PHX, according to Filipino media PhilStar Global. With the issuance, the bank also conducted the first blockchain-based transaction by a Filipino bank. The PHX stablecoin is pegged to the Philipino peso and backed by UnionBank reserves.
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