GCash exploring cryptocurrency services
GCash is currently exploring to offer services that would enable its users to offer, buy, sell, and store cryptocurrency within the platform.
GCash President & CEO Martha Sazon said in a report from PhilStar that the company, which is operated by Globe Fintech Innovations Inc., is looking into offering, buying, selling, and storing virtual currency.
“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 stated in the said report.
Some of the payment app giants, including PayPal and Square, now enable users to buy and sell cryptocurrency.
Moreover, Sazon mentioned that almost 40% of Filipinos now have a GCash account, and a third of their app’s monthly active users are also subscribed to one of the app’s financial products and services.
Currently, GCash offers various services that allow its users to buy a load, pay bills, send money, and shop online, as well as avail of investments, insurances, and the like within its app.
The platform has grown to 40 million users to date. GCash is under Globe Fintech Innovations Inc., which is part of the portfolio companies of 917Ventures owned by Globe Telecom Inc.