GCash Looking Into Cryptocurrency Trading: “Watch out for it soon”

GCash Looking Into Cryptocurrency Trading: “Watch out for it soon”

The explosion of crypto is making financial institutions take notice. Mobile payment provider Gcash is one of those institutions, and the company is planning to delve into cryptocurrency trading soon. According to reports, Gcash President and CEO Martha Sazon is considering a great possibility of cryptocurrency trading for the company and that we can “watch out for it soon.”

GCash Looking Into Cryptocurrency Trading: “Watch out for it soon”

President Martha Sazon has stated in an interview with Philstar: “It’s important to know what the trends are, whether locally and globally, and crypto is part of that. We’re looking at it seriously. There’s really a plan to host an entity within our platform to aid in the trading of cryptocurrency.” 

With what Gcash is, a mobile wallet platform, the company aims to keep up with the world’s latest finance trends in order to be able to continuously offer people services that they may need during these modern times. 

As of now, Gcash offers users the ability to remit in cryptocurrency from Canada to the Philippines using TEL. TEL is cryptocurrency made by mobile remittance network Telcoin built on Ethereum. However, Gcash currently does not offer users to buy, sell, or store cryptocurrency in the app. 

As of July, Gcash has around 46 million users and up to P10 million worth of transactions made through the app daily. The company, operated by Globe’s fintech arm Mynt or previously known as Globe Fintech Innovations, was also able to report a positive revenue as of June 2021. 

Whatever the company may decide on, one thing is for certain. Gcash will aim to satisfy the financial services needed by its users. As CEO Martha Sazon has said, “We will continue to innovate and provide relevant and accessible financial services for all.” 


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