A couple of GCash users posted on local crypto Facebook communities showing a new feature called GCrypto.
From what it looks like, this is just a test run, much like the upcoming GStocks feature, since it’s only available to a very limited number of users.
A post from the Pinoy Crypto Community Facebook group shows the exact look of the interface, which looks pretty intuitive and easy to understand. This is great as this would help crypto trading become more mainstream.
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However, some commenters expressed their concerns about the 5% fee. One user topped up his account with Php50 worth of Bitcoin, but only Php47.63 was reflected in his account.
Some commenters also pointed out the lack of a dedicated crypto wallet and the fact that users don’t hold the key, which means that GCash basically owns the crypto and not the actual user.
We’ll learn more about the GCrypto service in the future once the company makes the official announcement.
GCash has long been considering the inclusion of a crypto trading feature on the platform. Now that the competition is starting to heat up in the e-wallet space, now is the perfect time to further beef up their offerings.