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Top-tier Philippine E-wallet GCash Plans to Jump Into Crypto Trading

By Emily Rys | June 6, 2021
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GCash – a top-tier Philippines-based crypto wallet – is reportedly having plans down its pipeline to roll out crypto trading offerings.

Specifically, president and Head of GCash, Martha Sazon, reportedly revealed that the company is studying the potential release of a wide range of services for customers, nominally purchasing, storing and selling virtual coins such as Bitcoin (BTC), on its platform. 

Sazon additionally claimed that GCash is deep-diving into crypto trading in a bid to stay relevant with financial innovation.

“While we may be considered a disruptor now, it is important in this digital age that we should be mindful of all types of disruptions out there. It’s important to know what the trends are, whether locally and globally and crypto is part of that”. 

Sazon further disclosed that the company is exploring different options for a possible integration, as well as associated collaborations, via which it could make crypto trading available. 

“Just like in any introductions, you need a platform, a working business model, a partner, so as soon as those are satisfied, perhaps”. 

GCash is reportedly among the most well-known electronic wallet platforms throughout the country, with a minimum of 40% of Filipinos having a GCash account, per Sazon. 

The financial services firm Mynt – a subsidiary of Globe Telecom, which is running the most major mobile network in the Philippines – is reportedly in charge of the operations for the platform. 

The company’s possible initiative to establish its presence in the crypto sphere reportedly came after witnessing noteworthy development on the platform, with GCash’s user base having an over 20% surge, jumping from 33 to 44 million users in February.

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