GCash Teases GCrypto, Partnerships with Local Web3 Projects

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Editing by Nathaniel Cajuday

In line with the celebration of the Philippine Web3 Festival last week (November 14–18, 2022), mobile e-wallet GCash unveiled that their most awaited in-app crypto offering, GCrypto, is set to be launched soon, adding that they are now in partnership with other local web3 projects to date to further the adoption of crypto and blockchain in the Philippines.

Accordingly, in GCash’s Vice President Neil Trinidad’s keynote speech on the second day of the conference, he noted how the Philippines have the potential to grow and become one of the blockchain hubs in the world. With this, he stated that GCash is committed to being in the space when it happens.

“At GCash we believe in the power and the potential of the web3 ecosystem in the Philippines and we believe that we have a role to play as the number one e-wallet in the country. We believe that our role is in helping accelerate adoption, helping drive education, and helping grow trust throughout the ecosystem,” said Trinidad, adding that GCash has been amazed at the growth of the web3 ecosystem in the Philippines as crypto awareness grew over time, citing that there was 74% crypto awareness among Filipinos in 2021. (Read more: PH Ranks 2nd in Chainalysis Crypto Adoption Report)

“In a span of less than a year, we’ve seen that the adoption has been doubling and we envisioned that this number will only continue to grow as more and more Filipinos gain access, as more and more education has been widespread and wide scale, and as more and more people discover the true utility of owning cryptocurrency,” he explained.

Trinidad also revealed that GCash and its mother company, Globe, have forged partnerships with Yield Guild Games, MetaverseGo, Coins.ph, and Axie Infinity. (Read more: Globe Ventures Metaverse, Calls Self as ‘First Telco to Bring Filipinos to the Metaverse’)

“Let’s go explore the web3 ecosystem together!” Trinidad concluded.

Aside from Trinidad’s speech, GCrypto was also highlighted in the firm’s booth during the conference, where they offered prices ranging from stickers, pens, notebooks, caps, t-shirts, and even cryptocurrencies when attendees participated in their game. 

The game makes participants say “GCrypto coming soon,” as long as they can. Certain levels correspond to the number of prizes they can get–the highest level guarantees a crypto prize.

GCRYPTO COMING SOOOOOOOOOOOON! GCash booth during the #PHWEB3FEST where attendees can shout “GCash coming soon” and win some prizes.

Last June, Trinidad previously teased that the firm was still working on its crypto products, which were set to be “available soon.” This is more than a year after they stated that they would certainly make cryptocurrency and crypto trading available to its users. A month later, GCash added a crypto icon or crypto tab in their application that teases that the feature is still “coming soon.” (Read more: Crypto ‘Tab’ Now Available on GCash App, Says Crypto is Coming Soon)

Then, just last month, Trinidad and PDAX CEO Nichel Gaba confirmed to BitPinas that the platform’s crypto buy and sell service will be in partnership with the cryptocurrency exchange PDAX. 

This article is published on BitPinas: Gcash Teases GCrypto, Partnerships with Local Web3 Projects

Feature photo from Leah Callon-Butler, Twitter

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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