GCash, the leading digital wallet platform of the Philippines, announced that it has started to support USDC stabilcoin. The platform plays an important role in the national economy with its wide audience and high trading volume. The new feature, which is offered by GCASH’s GCRPTO service, aims to increase integration into the crypto currency ecosystem. The company is expected to reach a valuation of $ 8 billion for public offering until the end of 2025.
GCASH’s contribution to the economy and growth volume
Gcash has a central position in the daily financial transactions of the Philippines. Providing services similar to applications such as Alipay and Wechat Pay in China, the platform reaches more than $ 65 billion annually. The total amount of money transfers in the Philippines reached $ 38.3 billion in 2024. This figure represents approximately 8 %to 10 %of the country’s gross domestic product. The widespread use of GCash is considered an important carrier of vitality in this economy.
Digital payment and financial services offered by the platform also create alternative solutions for users without bank accounts. Thanks to services that can be accessed through mobile devices, users can perform many transactions from invoice payments to investment transactions. This increases the financial inclusion rate and also contributes to the spread of digitalization.
Mynt, the operator of GCash, operates with the partnership of 917ventures, a subsidiary of Ant Group, Ayala Corporation and Globe Telecom. This structural power makes it easier for the platform to keep up with technological developments and to rapidly integrate new features.
GCRYPTO SERVICE AND FUTURE PLANS
The GCrypto sub -platform within GCash offers its users the opportunity to make crypto money transactions. 39 different crypto currencies can be exchanged via GCRYPTO. These assets include Paypal’s pyusd stabilcoini. The number of fixed coins that can be traded with USDC support has also increased. GCryPTO is said to operate in cooperation with a local licensed digital asset exchange.
The integration of GCash into the crypto currency sector gives flexibility to the change of market conditions. Stabilcoin -based transfers continue to attract attention among users due to low cost and speed advantage. However, these procedures still have a low share in the general process volume.
According to Bloomberg, Gcash plans to public offering until the end of 2025. The targeted valuation is expected to be at least $ 8 billion. The company reached a valuation of $ 5 billion in a previous financing round. This development shows that investor interest is high and the appropriate conditions for the public offering are formed.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
