Philippines Banks to Use Visa B2B Connect

A group of Philippines banks is going to use Visa's blockchain-based payment platform  
15 February 2018   362

Four rural banks have partnered with The Union Bank of the Philippines (UnionBank) for blockchain technology-reliant payment system. UnionBank will help those banks to boost the efficiency of their payments processes by building a local platform base on top of Visa's B2B Connect system.

It is the first Philippine bank chosen by Visa for the latter’s B2B Connect.

According to Henry Rhoel Aguda, UnionBank's senior executive vice president, the bank is co-creating the blockchain platform to be used by the rural banks. He hopes that in future more banks will be included in the program.

B2B Connect is a business solution platform that allows financial institutions to provide their clients fast and secure cross-border payments.

U.S.-based Commerce Bank, South Korea's Shinhan Bank, and the United Overseas Bank are also working with Visa on the B2B.

Monetha is about to release first version of its wallet app

Monetha's MVP to be released on March 21 exclusively for MTH holders in order to make a significant step towards fully working decentralized trust and reputation system
23 March 2018   71

Starting from March 31 all of MTH token holders will gain exclusive access to Monetha wallet app - the MVP of the project. The release is considered to be Beta release, and approximately 10,500 of the users of the platform will become the first to test out the product. The app will be available on both iOS and Android.

The wallet itself is based on smart contracts and features

  • making/solving claims;
  • rating merchants;
  • writing reviews;
  • review of purchase history;
  • see clients' and merchants' trust ratings

The integration with Monetha through the app will allow merchants to accept Ethereum based tokens as a payment and then easily convert cryptocurrency into fiat currency. Monetha's mission is 'to develop and deploy the best transaction system that would be based on enforceable contracts without third party between consumer and merchants and a strong decentralised reputation management system'. Its solution is going to be universal, transparent, self-executing and transferable.

To the moment of the publication, Monetha's market parameters are as follows:

Average price: $0.102597

Market cap: $22,274,083

Volume (24): $435,208