GCASH, the largest digital portfolio in the Philippines, announced support for stablecoins via USDC.
The largest and most used digital silver application in the Philippines, GCASH, has just announced the support of the USDC in their mobile portfolio. Another user of ~ 100m being introduced into the Stablecoin network of Circle. https://t.co/ruscnyyji
– Jeremy Allaire – Jda.eth / Jdallaire.sol (@jerallaire) March 21, 2025
Data accessible to the public show that GCASH, which is similar to remuneration in Alipay or WeChat in China, is more than $ 65 billion (3.8 Billions of Philippin Pesos) in annual transactions.
The Philippin Sounds have reached a record of $ 38.3 billion in 2024 and represent approximately 8% to 10% of the country’s GDP.
Owner group-and the owner of Alipay, Ayala Corporation and Globe Telecom based in Manila 917ventures GCASH MYNT operator. GCASH offers crypto services via its subsidiary GCRYPTO, which has teamed up with PDax Crypto Exchange under locally.
In total, GCRYPTO offers 39 different active ingredients to discuss its platform, in particular Paypal’s Stablecoin Pyusd. Transfers based on stabbed increases in market sharing but remain relatively low, with less than 5% of all sending inbound funds using cryptographic rails.
Recently, Bloomberg said that GCASH could request an assessment of the stock exchange of at least $ 8 billion by the end of 2025.
The company, believes, is not in a hurry to become public because it recently finished a financing tour which increased its evaluation to $ 5 billion, which gives it enough capital and flexibility to expect favorable market conditions.
