GoTyme, a digital bank in the Philippines, has begun offering crypto services through its mobile app.
This update was made via a collaboration with Alpaca, a US fintech firm. Users can now purchase and store 11 cryptocurrencies in the app, with automatic conversion from Philippine pesos to US dollars.
Among the available assets are Bitcoin
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The feature aims to deliver an easy-to-use experience rather than more advanced trading tools. The bank’s CEO, Nate Clarke, emphasized that the product is built for people who want to buy crypto without dealing with technical analysis or juggling multiple apps.
Yoshi Yokokawa, the CEO of Alpaca, stated that Alpaca’s partnership with GoTyme Bank will help millions of Filipinos grow their wealth and take part in the global digital economy with confidence.
GoTyme officially launched in October 2022, the result of a partnership between a Singapore-based unicorn group and a major Filipino conglomerate. As of now, the platform allows users to open a bank account and receive a debit card in about 5 minutes.
The platform is pursuing expansion into Vietnam and Indonesia to broaden its reach in Southeast Asia’s digital banking industry.
On December 8, BPCE, a French banking group, announced plans to introduce crypto trading directly in its mobile applications. How does it work? Read the full story.