UnionBank Head Foresees the End of Physical Cash
Cointelegraph
Published Apr 03, 2020 01:30PM ET
Updated Apr 03, 2020 03:00PM ET
Edwin Bautista, president and chief executive of UnionBank of the Philippines, has forecast that the coronavirus outbreak will drive banks to shift towards digital currencies, leaving physical cash behind.
As Euromoney reported on April 3, Bautista noted that the pandemic provoked a heightened demand in online banking services, pushing banks to revise their digitization strategy. “Certainly, this pandemic amplifies the need for all banks to go digital now,” Bautista said.
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Written By: Cointelegraph
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