UNION Bank of the Philippines (UnionBank) leveraged its expertise in blockchain technology in a partnership with the nonprofit organization, Center for Art; New Ventures; and Sustainable Development (Canvas. PH) to help artists and collectors navigate the emerging non-fungible token (NFT) art space.

The partnership was made official through a virtual signing event on February 17 between Cathy Casas, UnionBank head of Blockchain Center of Excellence (BCOE), Digital Assets Markets Unit and API Marketplace, and Gigo Alampay, executive director of Canvas.PH. They were joined by former Department of Energy secretary Raphael Perpetuo Lotilla, who introduced Canvas.PH to UnionBank and who had set his eyes recently on the transformative potential of blockchain technology, especially here in the Philippines.