UnionBank and PDAX: Future Proofing Financial Service Providers

Union Bank of the Philippines (UnionBank) and the Philippine Digital Asset Exchange (PDAX), Inc. have recently signed a memorandum of agreement (MOU) to forge a partnership that will provide relevant solutions aimed at offering cutting-edge solutions for fintechs, tech companies, digital services companies, MSMEs, and corporate clients of UnionBank through Crypto-as-a-Service.

UnionBank and PDAX held The MOU signing ceremony last took place on April 26 at the UnionBank Plaza in Pasig City. The event was attended led by with PDAX CEO and Founder Nichel Gaba; PDAX Chief Business Development Officer Kenneth Chua; Assistant Vice President - Sales of UnionBank Fintech Business Group (FBG) Andrew Garcia; and Senior Vice President - Corporate Banking Group of UnionBank Angelica Balangue.

"I wish to thank PDAX for embarking on this journey with UnionBank as we ideate, co-create, and 'tech-up' the organizations which aim to include crypto services in their key offerings, primarily those in the payments segment," said Garcia. "May this partnership bring forth a more open and digitalized future for our business clients, our communities, and our country."

"Though we are signing this agreement today, we do feel at PDAX that our partnership has been in place from the very beginning, not only from a commercial standpoint with you as our banking partner, but also in the fact that we have very aligned values. We value responsible innovation, we value making services more accessible to Filipinos and we believe that the future of banking is digital," said Gaba.

"The path to digitalization is very rarely a straight line, and so we always need partners like UnionBank who have taken up the mantle of industry leadership in order to put our industry firmly committed in that path. So, we signed this [agreement] today to join you to make digital services more accessible," Gaba added.

"This program brings together the fintech, tech, and digital service companies and their unique value-added services for the benefit of our UnionBank clients. Services such as Crypto-as-a-Service by PDAX together with the other solutions of our fintech partners clearly augment the standard product offerings of the Bank," said Balangue.

The partnership with PDAX reinforces UnionBank’s “Tech-Up Pilipinas” advocacy by making financial service provider clients future-ready.