GCash, a popular mobile e-wallet in the Philippines, is to be upgraded with digital assets that can be traded on the platform.
The wallet provider boasts over 60 million users and 5 million merchants.
During a Web 3.0 workshop at Virtusio International, Niel Trinidad, the VP and Head of New Business at GCash citied the growth in the adoption of decentralised digital assets such as cryptocurrency.
Countries like Trinadad have pledged to follow the Philippines into the digital assets market and onboard their customers to GCash which provides access to numerous financial services spanning credit, savings, insurance, loans, and investments.
As a number of fintech companies compete in the digital assets space, Banko Sentral ng Pilipinas (BSP) data shows that cryptocurrency transactions grew consistently by 362% to 20 million in the first half of 2021.