GCASH, the largest digital wallet in the Philippines, has announced support for Stablecoins through the USDC.
The larger and widely used digital money application in the Philippines, GCASH, has just announced the support for the USDC in its mobile wallet. Other ~ 100 million users who take the circle Stablcoin network. https://t.co/ruscnyyjji
– Jeremy Allaire – Jda.eth / Jdallaire.sol (@jerlaire) March 21, 2025
The publicly available data show that GCASH, which is similar to the payment of Alipay or Wechat of China, makes more than $ 65 billion (3.8 trillions of Filipinos pesos) in the annual volume of transactions.
The Philippine remittances reached a record of $ 38.3 billion in 2024, and represent approximately 8% -10% of the country’s GDP.
ALIPAY OWNER-ANT GROUP, AYALA CORPORATION AND GLOBE TELECOM, GLASH OPERATOR OF GLOBE TELECOM, Based in Manilla, Mynt. GCASH offers encryption services through its GCRYPTO subsidiary, which has been associated with cryptox Crypro Exchange Pdax.
In total, Gcrypto offers 39 different assets to trade on its platform, including Pyusd Stablecoin from PayPal. Stablecoin -based transfers are growing as a part of the market, but remain relatively small, with less than 5% of all incoming remittances using cryptographic rails.
Recently, Bloomberg reported that GCASH could look for an OPO assessment of at least $ 8 billion by the end of 2025.
According to reports, the company is not in a hurry to become public, since it recently completed a financing round that increased its valuation to $ 5 billion, giving enough capital and flexibility to expect favorable market conditions.
