Philippines Leading Mobile Wallet Explores Possible Crypto Offering
GCash would join such other major payment firms as PayPal and Square in addressing growing demand for cryptocurrency services.
The Philippines' leading mobile wallet provider is eyeing a possible foray into crypto.
According to a report on Friday by local news outlet Philstar Global, GCash President and CEO Martha Sazon said her company is considering offering the ability to buy, sell and store crypto.
GCash currently offers users the ability to remit in crypto from Canada to the Philippines using TEL, the native crypto of the mobile remittance network Telcoin built on Ethereum. It does not offer the option to buy or sell crypto via its app.
“It’s important to know what the trends are, whether locally and globally, and crypto is part of that,” Sazon told philstar.
GCash is the country's top mobile wallet platform, servicing over 40 million users representing roughly 40% of the Filipino population, according to Sazon. GCash would join the likes of other major payments firms, including PayPal and Square, which currently offer similar products.
“Just like in any introductions you need a platform, a working business model, a partner, so as soon as those are satisfied, perhaps,” said Sazon in relation to offering cryptocurrencies via her platform.
See also: Philippines Issues Crypto Industry Guidelines to Guard Against Money Laundering
Using the GCash app, Filipinos can invest, purchase insurance, pay bills, remit money and shop online, among other tasks. The company also boasts partnerships with over 73,000 merchants and 400 billers nationwide.
“We will continue to innovate and provide relevant and accessible financial services for all,” Sazon said.
UPDATE (JUNE 4, 2021, 7:10 UTC): Updates to add information regarding Telcoin network remittance corridor with Canada.
More For You
需要了解的:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
IMF Flags Stablecoins as Source of Risk to Emerging Markets, Experts Say We Aren't There Yet
The IMF warns that USD-pegged stablecoins could undermine local currencies in emerging markets by facilitating currency substitution and capital outflows.
需要了解的:
- The IMF warns that USD-pegged stablecoins could undermine local currencies in emerging markets by facilitating currency substitution and capital outflows.
- Despite concerns, experts argue that the stablecoin market is still too small to have a significant macroeconomic impact.
- Stablecoins are primarily used for crypto trading, and their market size remains small compared to global currency flows.
