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Crypto dealings carry risk for ASEAN banks — Fitch

Published by
Philippine Star

Ramon Royandoyan – Philstar.com January 28, 2022 | 4:02pm MANILA, Philippines — Southeast Asian banks that have engaged in cryptocurrency transactions may face “financial and even operational” risks over time, according to Fitch Ratings, which also pointed out that such dealings are unlikely to bring a significant revenue boost to these lenders in the next years. The global debt watcher issued the assessment on Friday, a week after news broke that UnionBank of the Philippines is planning to launch a cryptocurrency trading platform. Some other banks in the region are also dabbling in cryptocurr…

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