“The Country’s Largest Digital Wallet Platform Now Offers Support for Stablecoins Via USDC.”, – WRITE: www.coindesk.com
The Largest and MOST WIDELY USED DIGITAL MONEY APP IN THE PHILIPPINES, GCASH, JUST AnnounCed Support for USDC in Their Mobile Wallet. Another ~ 100m USers Being Brough Into Circle’s Stablecoin Network. https://t.co/ruscnyyjji
– Jeremy Allaire – jda.th / jdallaire.sol (@jeralalaire) March 21, 2025
PUBLICLY AVAILABLE DATA SHOWS THAT GCASH, WHICH IS SIMILAR to China’s Alipay or WeChat Pay, Does Over $ 65 Billion (3.8 Trillion Philippine Pesos) in Annual Transaction Volume.
Filipino Remittans Reached A Record $ 38.3 Billion in 2024, and Account for Approximately 8% -10% of the Country’s GDP.
Alipay Owner-Ant Group, Ayala Corporation and Manilla-Based Globe Telecom’s. GCash Offers Crypto Services Via Its Gcrypto Subsidiary, WHICH HAS PARTNED WITH LOCALLY LICENSED CRYPTO Exchange Pdax.
In total gcrypto Offers 39 Different Assets to Trade on Its Platform, Including Paypal’s Pyusd Stablecoin. Stablecoin-Based Transfers Are Growing As A Share of the Market But Relativly Small, with Less than 5% of All Inbound RemittanCes Using Crypto Rails.
Recently, Bloomberg Reported that Gcash Could Seek An Ipo Valuation of at Least $ 8 Billion by the End of 2025.
The Company, Reportedly, Is In No Rush to Go Public As It Recently Completed A FUNDING THAT RAISED ITS VALUATION TO $ 5 Billion, Giving IT ENAUGH CAPITAL AND FLEXIBIVITY TO WAIT.
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