Aboitiz rebrands EON bank to UnionDigital

The bilyonaryo Aboitiz clan is rebranding its older online bank under a new name.

Clients of EON Bank, which branded itself as the country’s earliest fully online banks, will be automatically migrated as customers of UnionDigital Bank, a new brand which recently secured a license from the Bangko Sentral ng Pilipinas.

“We are delighted to announce that UnionBank will legally transfer and upgrade EON accounts by moving your account to its wholly owned subsidiary, UnionDigital Bank, following necessary regulatory notices,” the bank sent in a notice to existing EON customers.

“This means you’ll get access to the best-in-class digital banking experience – higher interest rates on your savings, digital time deposits, digital loans and much more because #UDeserve this,” it added.

Amid the transition, all existing EON products and services, including their debit or cash card, will remain usable. The transfer from EON to UnionDigital is automatic unless a customer opts out by sending an email.

Do Kwon arrest: what is a stablecoin?

“Stablecoins” shot to prominence after the creator of one such cryptocurrency, intended to be less volatile than competing coins, was arrested following the collapse of his TerraUSD firm, leaving investors $40 billion out of pocket.