Latest news with #PhilippinePeso
Bloomberg
5 days ago
- Business
- Bloomberg
Philippine Peso Volume to Gain on Economic Growth, FX Head Says
Trading volumes for the Philippine peso can grow as much as 10% in the coming years, according to the head of the nation's currency traders group. 'The foreign-exchange market will grow steadily,' Dominic Banal, president of ACI Philippines, an association of currency and derivatives traders, said in an interview last week. Volume in the spot dollar-peso market may increase 5% to 10% as growth in the economy raises demand for foreign exchange, he added.
Bloomberg
26-05-2025
- Business
- Bloomberg
Philippine Peso Gains to Strongest Since 2023 on Dollar, Oil
The Philippine peso rose to its strongest level in almost two years against the dollar, buoyed by weakness in the dollar and oil prices. The currency gained 0.1% to 55.20 on Monday, the highest since August 2023, as the greenback is weighed down by growing concerns over the US fiscal gap. Low crude oil prices are also benefiting the Philippines, a net fuel importer, as it helps narrow its balance-of-payments deficit.
Business Insider
17-05-2025
- Business
- Business Insider
Top 9 most counterfeited currencies in the World
The financial landscape is plagued by concerns of counterfeit currency, which continues to pose a persistent threat to the stability of global financial systems. This issue is exacerbated by access to sophisticated technology, exploited by organized criminal networks. Counterfeit currency remains a significant issue globally, threatening financial stability and enabling organized crime. INTERPOL combats counterfeiting through international collaboration and enforcement training. The US dollar is among the most counterfeited currencies, yet current scales of counterfeiting remain unclear. To simply put, counterfeiting is the act of creating or distributing fake currency or goods that mimic the real thing, often with the intention of deceiving others into accepting them as authentic. This can have serious economic and social consequences, including financial losses for individuals and businesses, damage to brand reputation, and potential funding of organized crime. According to INTERPOL, counterfeiting financial instruments fuels underground economies and enables organized crime and terrorism. The International Criminal Police Organization works to combat these threats through international cooperation, intelligence sharing, and law enforcement training. As fraudsters increasingly leverage sophisticated technologies to replicate or alter banknotes with remarkable precision, many countries now utilize the 'parts per million' (PPM) metric to monitor counterfeit currency. This metric measures the number of fake notes per one million genuine banknotes in circulation, with most nations aiming to maintain a counterfeiting rate below 15 PPM Top 9 Most Counterfeited Currencies in the World A recent profile by YahooFinance ranks the currencies most targeted by counterfeiters, based on available data Rank Country PPM 1 US Dollar 100? 2 British Pound 42 3 Euro 13 4 Australian Dollar 9 5 Philippine Peso 7.9 6 Canadian Dollar 7 7 South African Rand 3 8 New Zealand Dollar 0.8 9 Malaysian Ringgit 0.3 The US dollar tops the list as the most counterfeited currency due to its global proximity and acceptance, being the world's most accessible and widely accepted legal tender. However, despite its popularity, the most recent estimate from 2006 indicated that approximately 1 in every 10,000 US bills was counterfeit, and no updated figures have been released since then. The US remains tight-lipped about the actual volume of fake dollars in circulation, complicating efforts to gauge the true scale of the issue. Interestingly, the United States has opted to maintain its traditional cotton-linen material for currency, rather than switching to plastic notes like some other countries, such as Australia, Canada, and the UK. In its bid to prevent counterfeiting, the US has implemented robust measures including built-in deterrence systems in popular editing software like Adobe Photoshop, which prevent users from opening images of US currency.
Associated Press
14-03-2025
- Business
- Associated Press
UU Wallet Secures U.S. MSB License, Embarking on a New Chapter of Global Compliance with Security at Its Core
HONG KONG SAR - Media OutReach Newswire - 14 March 2025 - UU Wallet, a leading global Web3 payment platform, recently announced that it has officially obtained the Money Services Business (MSB) license from the United States. This makes UU Wallet one of the few digital financial service platforms that combines robust security capabilities with global compliance credentials. The approval of this license signifies that UU Wallet can now operate compliantly within the U.S. regulatory framework, engaging in digital asset transactions, fiat currency exchange, and cross-border payments, further solidifying its position as the 'most secure Web3 payment platform.' Security and Compliance: Driving Global Strategy The U.S. MSB license, issued by the Financial Crimes Enforcement Network (FinCEN) under the Department of the Treasury, is a critical entry requirement for international financial institutions to provide monetary services. Passing the license audit indicates that UU Wallet has met stringent U.S. regulatory standards in areas such as anti-money laundering (AML), risk control systems, and user asset protection. Since its establishment in 2023, UU Wallet has rapidly grown into a Web3 payment ecosystem covering over 160 countries and regions, thanks to its technological innovation and commitment to security. With a team of over 100 professionals, UU Wallet focuses on four core businesses: digital currency and fiat exchange, prepaid cards, enterprise wallet services, and Web3 wealth management. Its daily transaction volume has surpassed $20 million. Four Core Features Redefining Secure Payment Experiences Instant Fiat Exchange, Secure and Frictionless UU Wallet supports instant conversions between mainstream fiat currencies such as the Philippine Peso (PHP), South Korean Won (KRW), Japanese Yen (JPY), US Dollar (USD), Hong Kong Dollar (HKD), and Malaysian Ringgit (MYR), and digital currencies. Utilizing intelligent routing and multi-signature cold wallet technology, users can complete cross-border fund transfers within 5 seconds, with end-to-end data encryption and a zero-risk incident record. Global Prepaid Cards: USDT Real-Time Circulation, Balancing KYC Efficiency and Security Users can instantly recharge prepaid cards with USDT, which are accepted in over 160 countries and regions for both online and offline purchases. The platform supports both virtual and physical cards, as well as B2B client integration. UU Wallet's unique 'tiered KYC' mechanism allows basic consumption scenarios to complete identity verification in just 3 minutes, while larger transactions are secured through dynamic facial recognition and blockchain address tracking, striking a balance between convenience and security. Enterprise Wallet Services: Comprehensive Fund Protection For Web3 enterprises, UU Wallet offers payment and fund management solutions covering 50+ public chains and 10,000+ tokens. Through secure multi-party computation (MPC) technology, real-time risk warning systems, and monthly third-party audits, UU Wallet ensures transparent and traceable fund flows, mitigating risks of operational errors and hacker attacks. Web3 Asset Wealth Management: Balancing Returns and Risk Control The platform provides a variety of value-added services, including flexible staking, structured products, and compliant stablecoin wealth management. All products are executed automatically via smart contracts, with code security verified by top-tier auditing firms. Historical annualized returns range from 3% to 15%, ensuring users' assets grow steadily and securely. 'Security is the lifeline of financial services,' said a UU Wallet spokesperson. 'With the MSB license, we will accelerate collaboration with global regulators and traditional financial institutions, driving deeper integration of Web3 payments with mainstream economic systems.' Hashtag: #UUWallet The issuer is solely responsible for the content of this announcement. About UU Wallet
Zawya
14-03-2025
- Business
- Zawya
UU Wallet Secures U.S. MSB License, Embarking on a New Chapter of Global Compliance with Security at Its Core
HONG KONG SAR - Media OutReach Newswire - 14 March 2025 - UU Wallet, a leading global Web3 payment platform, recently announced that it has officially obtained the Money Services Business (MSB) license from the United States. This makes UU Wallet one of the few digital financial service platforms that combines robust security capabilities with global compliance credentials. The approval of this license signifies that UU Wallet can now operate compliantly within the U.S. regulatory framework, engaging in digital asset transactions, fiat currency exchange, and cross-border payments, further solidifying its position as the "most secure Web3 payment platform." Security and Compliance: Driving Global Strategy The U.S. MSB license, issued by the Financial Crimes Enforcement Network (FinCEN) under the Department of the Treasury, is a critical entry requirement for international financial institutions to provide monetary services. Passing the license audit indicates that UU Wallet has met stringent U.S. regulatory standards in areas such as anti-money laundering (AML), risk control systems, and user asset protection. Since its establishment in 2023, UU Wallet has rapidly grown into a Web3 payment ecosystem covering over 160 countries and regions, thanks to its technological innovation and commitment to security. With a team of over 100 professionals, UU Wallet focuses on four core businesses: digital currency and fiat exchange, prepaid cards, enterprise wallet services, and Web3 wealth management. Its daily transaction volume has surpassed $20 million. Four Core Features Redefining Secure Payment Experiences Instant Fiat Exchange, Secure and Frictionless UU Wallet supports instant conversions between mainstream fiat currencies such as the Philippine Peso (PHP), South Korean Won (KRW), Japanese Yen (JPY), US Dollar (USD), Hong Kong Dollar (HKD), and Malaysian Ringgit (MYR), and digital currencies. Utilizing intelligent routing and multi-signature cold wallet technology, users can complete cross-border fund transfers within 5 seconds, with end-to-end data encryption and a zero-risk incident record. Global Prepaid Cards: USDT Real-Time Circulation, Balancing KYC Efficiency and Security Users can instantly recharge prepaid cards with USDT, which are accepted in over 160 countries and regions for both online and offline purchases. The platform supports both virtual and physical cards, as well as B2B client integration. UU Wallet's unique "tiered KYC" mechanism allows basic consumption scenarios to complete identity verification in just 3 minutes, while larger transactions are secured through dynamic facial recognition and blockchain address tracking, striking a balance between convenience and security. Enterprise Wallet Services: Comprehensive Fund Protection For Web3 enterprises, UU Wallet offers payment and fund management solutions covering 50+ public chains and 10,000+ tokens. Through secure multi-party computation (MPC) technology, real-time risk warning systems, and monthly third-party audits, UU Wallet ensures transparent and traceable fund flows, mitigating risks of operational errors and hacker attacks. Web3 Asset Wealth Management: Balancing Returns and Risk Control The platform provides a variety of value-added services, including flexible staking, structured products, and compliant stablecoin wealth management. All products are executed automatically via smart contracts, with code security verified by top-tier auditing firms. Historical annualized returns range from 3% to 15%, ensuring users' assets grow steadily and securely. "Security is the lifeline of financial services," said a UU Wallet spokesperson. "With the MSB license, we will accelerate collaboration with global regulators and traditional financial institutions, driving deeper integration of Web3 payments with mainstream economic systems." Hashtag: #UUWallet The issuer is solely responsible for the content of this announcement. About UU Wallet UU Wallet is a security-focused Web3 payment infrastructure provider dedicated to lowering the barriers to digital asset usage through technological innovation. The company has obtained financial licenses in the United States and the Philippines, serving over 500,000 individual users and 2,000 enterprises with a zero-security-incident record. UU Wallet
