Philippine bank Union Bank is reportedly launching the country’s first two-way cryptocurrency ATM.
The move will reportedly let customers buy and sell cryptocurrencies for cash via the ATM as part of the bank’s “sandbox” — a framework for conducting experiments in a controlled environment.
The report did not specify which digital currencies will be supported in the experiment.
According to Philstar, the system complies with current regulations and is the result of a collaboration between Union Bank and the country’s central bank, Bangko Sentral ng Pilipinas (BSP). The article cites a statement released by the bank claiming that the ATM will provide “an alternative channel to convert their pesos to virtual currency and vice versa.”
Philstar reports that Union Bank…
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