(Update April 5, 2022) PayMaya Crypto Function is Now Live!
Fintech firm Paymaya says it is eyeing “big targets” for 2022 through venturing into the booming non-fungible token (NFT) market as it prepares to launch crypto investments in the platform while vastly expanding their touchpoints nationwide.
“The board has given us very strong growth targets,” – Shailesh Baidwan, PayMaya President
To expand their operations, Paymaya stated that it would be supported by its telco affiliates and the upcoming launch of its affiliate digital bank, Maya Bank, which aims to seize a larger share of the country’s vast “unbanked” segment and small to medium-sized businesses. (Read more: PayMaya Parent Firm’s ‘Crypto-ready’ MayaBank Eyes Q1 Launch)
Maya Bank is among the 6 licensed digital banks in the Philippines; the other banks are Overseas Filipino Bank, Tonik Digital Bank, UNObank, Union Digital and GOtyme.
Aside from the preparation for the launch of its digital bank, Paymaya is also taking other measures to secure their expansion into the crypto world.
PayMaya received its license as a Virtual Asset Service Provider (VASP) from the Philippine Central Bank last January. The license would allow the company to offer and ride on the increasing adoption of cryptocurrency and NFTs in the Philippine market. (Read more: PayMaya and Facebook Novi Philippines Receive Virtual Currency Exchange License from the BSP)
“As most of you know, (the) Philippines is one of the global highest in terms of consumption of NFTs,” Baidwan added. (Read More: There are More NFT Owners in the Philippines Than Anywhere Else
To further expand its footprint among small to medium-sized enterprises, Baidwan expressed that PayMaya is also preparing for the rollout of the government’s nationwide QR (quick response) standard (QR PH).
From the 90,000 added touchpoints last September 2021, PayMaya stated that they are targeting a million touchpoints in 2022 from 430,000 last year.
This article is published on BitPinas: Paymaya NFT? Firm Sets “Big Targets” for 2022
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