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Bonds.PH app makes bond investing easy for unbanked

Union Bank of the Philippines President and CEO Edwin R. Bautista says the Bonds.PH mobile app will benefit every Filipino.
Union Bank of the Philippines President and CEO Edwin R. Bautista says the Bonds.PH mobile app will benefit every Filipino.

Have you ever thought of investing in retail treasury bonds? Now the Bonds.PH mobile app makes it easy for every Filipino, even the unbanked, to do so for as low as US$100.

The Philippine Bureau of the Treasury (BTr) is the first in Asia to launch an app for the distribution of retail treasury bonds enabled by Distributed Ledger Technology (DLT).

“The launch of Bonds.PH paves the way for all Filipinos, particularly the unbanked, to easily and affordably invest in the BTr’s newest retail treasury bond, RTB-24 or the Progreso Bonds. The mobile app presents a compelling opportunity for all to invest and help the Republic raise funds for economic recovery and COVID-19 response,” Philippine National Treasurer Rosalia V. De Leon said in a press statement.

The launch was made possible in partnership with Union Bank of the Philippines (UnionBank) and Philippine Digital Asset Exchange (PDAX).

“This is the first retail treasury bond issuance to leverage on blockchain technology in Asia, and likely the world. The Philippines is ready to lead the way into the future and tech up the nation with innovative, inclusive opportunities, powered by emerging technologies, for the benefit of all Filipinos,” said UnionBank President and CEO Edwin R. Bautista.

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Technology

Binance CEO: ‘We want to increase freedom of money’

Binance CEO Changpeng Zhao candidly admits that luck played a big part in the company's success.
Binance CEO Changpeng Zhao candidly admits that luck played a big part in the company’s success.

When Binance was born in July 2017, few would have thought that within 180 days, it would become the largest cryptocurrency exchange in the world. Today, Binance remains the world’s leading cryptocurrency exchange by trading volume. And the Chinese-Canadian coder who founded it, Binance CEO Changpeng Zhao, was named by Forbes as third on its “The Richest People In Cryptocurrency” list in 2018. Zhao, who is known as CZ, has an estimated net worth of US$1.2B according to Forbes, as of March 4, 2019.

What made Binance different, which led to its dramatic growth? This was the first question Bitcoin podcaster and Ministry of Nodes Co-founder Stephan Livera asked Zhao. Livera hosted a fireside chat with the Binance CEO at the ongoing Crypto Asia Summit. This free virtual summit is being hosted on the world’s first blockchain and cryptocurrency online live event platform and social network, ChainTalk TV

“At the mission level, we want to increase the freedom of money. I think that resonates with a lot of our users who think that right now most of our money is not that free. And there’s a lot of restrictions with it. So I think that resonates with a lot of our community,” said Zhao.