Cryptocurrency News

Leading Philippine E-Wallet GCash Monitors Crypto Trading

GCash, a leading digital wallet in the Philippines, is reportedly considering launching crypto trading services.

GCash CEO and President Martha Sazon announced that the firm is looking at offering users the ability to buy, sell and store cryptocurrencies such as bitcoin.B T c) on your platform.

In a Monday interview with the Philippine star, Sazon Monday said That GCash is exploring cryptocurrency trading to keep up with financial innovations. “While we may now be considered a disruptor, in this digital age it is important that we beware of all kinds of disruptions out there. It is important to know what the trends are, whether locally and globally and crypto is part of the same. is,” she said.

Sazon said that the firm is looking at possible integration options and related partnerships through which it can begin crypto trading. “Like any introduction, you need a platform, a working business model, a partner, so that as soon as they are satisfied, maybe,” Saizon said.

According to Sazon, GCash is one of the most popular electronic wallet platforms in the Philippines, with at least 40% of Filipinos having a GCash account. The platform is operated by financial services company Mynt, a subsidiary of Globe Telecom, which operates the largest mobile network in the Philippines.

The firm’s potential move into the cryptocurrency industry follows significant growth on the platform with GCash’s user base. spiking Over 20% from 33 million to 40 million subscribers in February. “We will continue to innovate and provide financial services that are relevant and accessible to all,” Saizon said.

If GCash adopts crypto services on its platform, the firm will follow similar moves by some of the world’s largest digital wallet and payment service providers such as PayPal, Square, Venmo and Revolt. paypal Launched its first crypto services last year when it started allowing residents of the United States To buy, sell and hold cryptocurrencies.