“OneConnect Financial Technology Co. Ltd. (OneConnect), an associate company of China’s insurance giant and Fortune Top 29 Company Ping An Group, has partnered with UBX Philippines Corporation, the wholly-owned fintech subsidiary of Union Bank of the Philippines (UnionBank), to build the country’s first blockchain-enabled platform to meet the banking needs of micro, small and medium enterprises (MSMEs). The partnership underpins both UBX and OneConnect’s commitment in accelerating digital transformation in the Philippine financial services industry –  using their technological advancements to enable financial institutions to better serve the unbanked and underbanked communities.”