I love this development, that the head of my bank is a believer of cryptocurrencies. In fact they mined cryptos (possibly bitcoin) earned five dollars in five days with one miner but have to pay $4.5 in expenses for electricity so it was discontinued.
He also said that they were considering accepting cryptocurrencies as payment since he wasn't worried about regulations as the Philippine Central Bank is very open for cryptos but exchanges will just have to go over with the normal business protocols of KYC for anti-money laundering law. So I am now excited that in the near future I can load my debit card with cryptocurrencies in the near future, it's exciting indeed.
For SME's they partnered with Visa to facilitate a cross-border B2B or bank to bank payment system using blockchain technology. So with that transaction cost will get reduced for about 50%. It will be in operation in the end of the year and indeed it will be good for my country's economy.
Sources: Cryptovest.com
Ethereumworldnews.com