UnionBank Showcases its Cross-border Remittance Pilot at SFF utilising Adhara’s Platform
Union Bank of the Philippines (UnionBank) showcased its pilot blockchain-based cross-border remittance project at the Singapore FinTech Festival (SFF).
![10](https://adhara.io/wp-content/uploads/2019/11/10.png)
This was done in partnership with OCBC Bank, Singapore’s longest established bank and using the Adhara liquidity management and international payments platform.
The demonstration followed a successful pilot project run earlier in 2019 which used a blockchain-based tokenized fiat to successfully remit money from OCBC Bank in Singapore to an account holder at Cantilan Bank, a rural bank in Surigao Del Sur. This was made possible by combining the features of both the Adhara platform and UnionBank-UBX’s i2i platform.
The SFF Singapore FinTech Festival is the largest Financial Technology event in the world. It provides a platform for the global FinTech community to connect, collaborate and co-create. This years event attracted over 45 000 delegates over the course of the week.
Below is an overview of the whole process,