GCash moves into cryptocurrency space

MANILA, Philippines — Mobile wallet GCash is expanding its financial services and products by moving into the cryptocurrency space to cater to the evolving needs of its users.

“Our users enjoy seamless transactions with GCash. They can buy and pay crypto directly from their GCash e-wallets. This is very ideal, especially for those who are just starting to venture in cryptocurrency,” GCash vice president and head of cryptocurrency Neil Trinidad said.

GCash enables users to conveniently buy cryptocurrency or crypto, a digital or virtual currency that is secured by cryptography, at very affordable rates across popular crypto exchanges such as Binance, Philippine Digital Assets Exchange (PDAX), and Paxful.

The mobile wallet said many more crypto exchanges would be added soon.

“With the continued expansion of the digital age, it’s vital for financial institutions like GCash to keep up with the trends and customers’ preferences, like cryptocurrency. And at GCash, we are doing just that to further enhance the customers’ experience and enable them to power up their finances for better lives. GCash will also continue to innovate and provide safe, relevant, and accessible financial services for all,” GCash president and CEO Martha Sazon said.

GCash assured the public that the security and safety of every crypto user in its platform is prioritized.

With over 55 million registered users, GCash is widely accepted across crypto exchanges for cash-in or peer- to- peer transactions.

Aside from being a payment method on crypto exchanges, GCash eyes to expand its investment products to also cover stock trading.

GCash currently offers its users a wide variety of convenient features, such as GInvest for investments, GSave for a savings account, GCredit for a credit line, GInsure for insurance, and GLife for e-commerce shopping for essentials, among others.

GCash more than tripled its gross value transactions in 2021 as the platform sustained strong patronage among users.

Gross transactions handled by GCash reached P3.8 trillion last year, up 217 percent from the P1.2 trillion recorded the previous year.