GCash is investigating the possibility of providing services that would allow users to offer, purchase, sell, and store cryptocurrencies on the platform.
GCash currently provides a number of services to its users, including the ability to buy a load, pay bills, send money, and shop online, as well as access investments, insurance, and other services through its app.
To date, the platform has attracted 40 million users. Globe Fintech Innovations Inc., which is part of Globe Telecom Inc.’s portfolio company 917Ventures, owns GCash.
Users can invest as little as P50 in professionally managed local and worldwide funds using the app’s GInvest function.
GInsure, another feature, offers low-cost insurance coverage for medical emergencies including dengue fever, COVID-19, and accidents for as little as P300.
GSave is a totally digital, safe, and hassle-free savings account developed in collaboration with CIMB Bank for easy money management.
It has no maintenance balance, no fees, and no initial deposit, and it is fully accessible once the account is created.
With its expanding offering of financial products and services, GCash Mobile Wallet is likely to integrate cryptocurrencies.
According to the report, Sazon stated, “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.”
“Just like in any introductions, you need a platform, a working business model, a partner, so as soon as those are satisfied, perhaps,” she added.
Martha Sazon, the CEO of GCash, would not say which company they intend to work with.
One thing is guaranteed, no matter what the firm decides. Gcash will strive to provide its users with the financial services they require. As CEO Martha Sazon has said, “We will continue to innovate and provide relevant and accessible financial services for all.”