GCash has launched the PayPal USD in the Philippines to enhance access to crypto.
GCash said this allows users and freelancers to send PYUSD tokens at low transaction fees to GCrypto, the in-app feature of GCash powered by PDAX.
GCrypto users will also be able to buy, sell and hold PYUSD tokens inside the GCash app.
PYUSD, issued by Paxos Trust Company, provides holders the benefits of fast and secure transactions, while minimizing price volatility commonly associated with other digital assets.
The stablecoin employs multiple blockchains, including the Solana blockchain, which is currently powering more than double the blockchain traffic compared to the next leading blockchain network.
This gives users more flexibility and choices with stablecoins, while providing faster and cheaper transactions utilizing the Solana Network, GCash said.
Cryptocurrencies have surged in popularity due to their secure, blockchain-based technology, ensuring reliable and swift transactions. Each unique, counterfeit-proof token provides multiple layers of security.
Beyond their reliability, cryptocurrencies offer inclusivity through decentralized public ledgers, making them accessible to everyone.
“Crypto, unlike centralized currencies, is digital, secure, and available for everyone. These factors are also what made GCash preferable to many Filipinos, making us the largest digital ecosystem in the country. We at GCash believe that it is through digital finance that we can empower not just the unbanked and the underbank, but everyone, and we mean everyone. Inclusivity is the way to maximize economic growth. The transcendence of crypto, partnered with a platform like ours, creates a more solid structure on how our users can grow their wealth,” said Winsley Bangit, GCash group head of new businesses.
With the continued expansion of the digital landscape, GCash said this announcement also underscores its mission to keep up with the trends and customers’ preferences, enabling them to power up their finances for better lives, fostering inclusive, safe, financial services for all.
