GCash Exploring Possibility Of Adding Cryptocurrency

GCash was exploring the possibility of adding cryptocurrency.

Mobile wallet GCash was currently exploring the possibility of adding cryptocurrency to its growing portfolio of financial services and products.

GCash was exploring the possibility of adding cryptocurrency.
Photo source: Philstar

GCash President and Chief Executive Officer Martha Sazon said that the company, which was operated by Globe Fintech Innovations Inc., was looking into offering, selling, buying, and storing cryptocurrency.

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

Payment app giants such as Square and PayPal currently allowed users to buy and sell cryptocurrency.

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GCash had emerged as the Philippines’ leading mobile wallet, with more than 40 million users as of end-April.

According to Sazon, 40% of Filipinos currently have a GCash account, with the app being used more than twice a day by its active users. Sazon also said that a third of the app’s monthly active users were also subscribed to at least one of its financial products and services.

We will continue to innovate and provide relevant and accessible financial services for all,” Sazon said.

Currently, GCash allowed its users to shop, invest, save, get insurance coverage, among others, through the app.

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