[Exclusive] PayMaya to Offer Crypto Soon, Not Interested to Acquire VCEs Right Now

PayMaya points out that putting crypto products in their app is part of its roadmap, and the firm is “approaching it purposively.”

(Update April 5, 2022) PayMaya Crypto Function is Now Live!

By Shiela Bertillo

Voyager-backed mobile e-wallet PayMaya confirmed exclusively to BitPinas that they have plans to put cryptocurrency in their app. The firm also revealed that they are currently not acquiring Virtual Currency Exchange (VCE) at the moment. The popular e-wallet has 38 million users in the Philippines.

Crypto Holders Can Already Use PayMaya

“Customers can already invest in crypto using PayMaya as their e-wallet. We have a tie-up with PDAX, including for Bonds.Ph online investment platform. PayMaya is helping democratize access to these services, even for those who do not yet have a bank account,” Nick Wilwayco, Head of PR and Communications at PayMaya revealed to BitPinas.

PDAX (Philippine Digital Asset Exchange) is the country’s homegrown cryptocurrency exchange platform; while Bonds.ph is a bonds buy and sell platform, also by PDAX. 

PayMaya Approaches Crypto “Purposively”

PayMaya points out that putting crypto products in their app is part of its roadmap, and the firm is “approaching it purposively.”  

In line with the fintech app’s cryptocurrency adoption plans, PayMaya recently posted a job listing in LinkedIn, looking for someone with familiarity in DeFi, NFT’s and the crypto ecosystem to become its product manager for cryptocurrency. (Read more: PayMaya is Looking for Crypto Product Manager)

Looking for the Best Talent

When asked if the firm was looking for a local or international talent to fill the role, PayMaya answered that the place of origin is irrelevant as long as the applicant has the “best talents.”

“We are always on the lookout for the best talents, whether they are from the Philippines or abroad. We are looking for people who are excited to lead this space and build relevant products. We want high-flying leaders who can drive results with scale and impact. Being customer-centric and having a strong track record of execution are important,” PayMaya told BitPinas.

Crypto Has Long Been on PayMaya’s Radar

When asked about how long PayMaya has been investigating crypto as well as what were their business drivers that determined the recent crypto-related job listing, the firm answered that crypto has always been on their horizon.

“The challenge is how to develop the right solutions relevant to our customers. We are not putting services on the market just for the sake of claiming that we are offering them,” they answered.

PayMaya also emphasized how they are moving into the crypto space with “confident enthusiasm.”

“Over the past year, we have strengthened the PayMaya app with best-in-class features, reliable services, and secure infrastructure. We are proud to see that it is the top-rated e-wallet app in the country,” PayMaya stated.

Last September, PayMaya-affiliated Maya Bank secured a digital banking license from the Banko Sentral ng Pilipinas (BSP). Maya Bank was the sixth and last applicant to get a digital banking license from the central bank along with  Overseas Filipino Bank of Land Bank of the Philippines, Tonik Bank of Singapore, UNObank of Singapore, UnionDigital of Union Bank of the Philippines, and GOtyme of Robinsons Bank Corp.  (Read more: PLDT Secures Digital Banking License)

“At a time when digital adoption is growing fast, we are moving forward beyond payments with our digital bank license for Maya Bank. Getting experts on crypto and other technologies is part of this progression,” they added.

This article is published on BitPinas: PayMaya to Put Crypto in App, Not Interested to Acquire VCEs Right Now

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