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Company behind GCash considers crypto, stocks platform

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Globe Fintech Innovations Inc. (Mynt), the company behind the popular e-wallet platform GCash, is considering a platform that will allow its users to trade crypto. The company CEO said in an interview last Monday.

Mynt recently earned USD2 billion from a series of funding. In an interview, CEO Martha Sazon said that they also plan to grow their financial services products and will also “double down on lending”.

The CEO also reported that they expect to hit Php3.5 trillion worth of transactions before the year 2021 ends. That’s noticeably higher than last year’s transactions, which reached Php1 trillion.

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The company also reported positive EBITDA and net income after tax for four straight months.

First reports of GCash entering the crypto trading business started back in August. With this new development, the said service may not come until a couple more months.

Once available, this could make crypto and stocks trading more accessible to Filipinos. As you know, GCash has been a great promotor of many financial services to the country, especially those who are underserved.

Source: Bloomberg

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