UnionBank (UBP), the seventh largest bank in the Philippines officially got itself into the cryptocurrency game this week, but there’s a catch. Users will be required to use a UBP bank account to exchange funds to and from virtual currency. After announcing its proposed roll out back in February, UnionBank launched its first bank-based cryptocurrency ATM this week, the bank confirmed to Hard Fork. It will only serve Bitcoin at the moment, though. UnionBank has not confirmed if it will offer other cryptocurrencies in the future. The ATM is located in “The ARK,” UnionBank’s first fully digital branch, launched back…

This story continues at The Next Web

Or just read more coverage about: Bitcoin