Bitcoins can now be purchased in 14 different banks

Published July 3, 2014 1:58am

After integrating with Dragonpay, a local online payment processor, bitcoins can now be bought in 14 different banks in the Philippines, according to a press release by BuyBitcoin.ph on Wednesday.

Among the banks are the following:

BDO
BPI
Metrobank
Chinabank
Eastwest bank
Landbank
Maybank
PNB
RCBC
RobinsonsBank
Sterling Bank
Security Bank
Unionbank
UCPB

Buyers can also pay for bitcoins through online banking in the following banks:

BDO
BPI
Metrobank
RCBC
Unionbank
UCPB

Bitcoins can also be deposted in the following remittance centers:

Cebuana Lhuillier
M Lhuilier
Bayad Center
ECPay
LBC
Robinsons Dept Store
SM Dept/Supermarket

BuyBitcoin.ph is an online bitcoin exchange that primarily offers an alternative method of senting money to the Philippines.

Bitcoin is a virtual currency that can be used to directly purchase items or services online. They can be traded for other currencies and can be used to send remittances from Filipino expats around the world.

Since payments do not need to pass through a central bank or clearing house, bitcoins are a relatively cheaper and faster alternative to banks or money transfer companies.

The use of bitcoins has been a controversial topic in some parts of Asia, including China and India. — Kim Luces/ELR, GMA News

Tags: bitcoin