Categories
Technology

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.

Categories
Technology

Digital is the new normal, says UnionBank Chairman

Businesses should think long-term and realize that digital is the new normal, says UnionBank of the Philippines Chairman Justo A. Ortiz.
Businesses should think long-term and realize that digital is the new normal, says UnionBank of the Philippines Chairman Justo A. Ortiz.

The COVID-19 pandemic has forced companies to embrace digital transformation. It would wrong, however, for businesses to think that digital is just a means for survival, or part of their business continuity plan. Instead, they should accept that digital is the new normal.

“Clearly the pandemic has given us a use case for digital. Many corporations — large, small-, and medium-scale — have realized that investing in resiliency is going to be a lot more important going forward. But having said that, we don’t want the idea of digital and digital transformation to be just BCP,” said UnionBank of the Philippines Chairman Justo A. Ortiz.

“I think that clearly there’s a lot of opportunity for digital to be mainstream as our new normal. So it’s not about social distancing and face masks, because there could be other black swans that come down the road. Other pandemics, other natural disasters, and, God forbid, even wars. But it’s important that we basically focus on digital and mainstream it,” he said.