It looks like cryptocurrency trading will be added to GCash’s growing number of financial services and products.
GCash — one of the most popular mobile wallet services in the Philippines operated by Globe Fintech Innovations Inc. — is looking into offering, buying, selling, and storing cryptocurrency, says president and CEO Martha Sazon.
In a statement, Sazon said it’s important for the company to know what the local and global trends are, and crypto is one of them.
The CEO hinted they might be currently working on a platform, business model, and partners to release crypto on GCash in the future.
GCash offering cryptocurrency may help this new trend to go mainstream in the Philippines. By the end of April 2021, more than 40 million Filipinos already have a GCash wallet. That’s about 40% of the total population.
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Active users even use the service more than two times a day. Meanwhile, a third of GCash users are also using at least one of its financial services.
Once available, crypto will be added to the vast number of services available in GCash, which now includes investing, save, shop, insurance, and more.