top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen


20 Jan 2022

Philippine Bank to Launch Crypto Trading Service

The Index Today

Union Bank of the Philippines plans to offer trading and custodial services for cryptocurrencies to capitalize on fast adoption of digital tokens in the Asian nation, confirmed by the Bloomberg news.

Cathy Casas, head of the bank’s blockchain and application programing interface group said that the average Filipino investor will likely hold 3% to 5% of their personal assets in digital assets like Bitcoin in five years assuming markets are “stable,” up from around 1% to 2% now. Many crypto investors are young people, some of whom earn tokens from play-to-earn virtual games, she added.

“It’s a way to future-proof our banking business,” Casas said in an interview.

Casas estimated that there is about 5% of the local population have dabbled in cryptocurrencies. That’s in line with the global average, according to an estimate from Binance Holdings Ltd., operator of the world’s largest cryptocurrency exchange.

However, Philippine central bank Governor Benjamin Diokno seems to be against with the mentioned plan as he has cautioned the public against cryptocurrencies, saying they could “pose a danger to the financial system” as they are “very vulnerable” to illicit activities like money laundering and terrorist financing.

Clay pottery with table linens
bottom of page