In a press briefing, Grab Financial Group head Martha Borja mentioned that its digital payment service GrabPay is “very much present” in the cryptocurrency space by allowing users to top up using their GrabPay wallets.
“We’re very much present in that category. We do have quite a bit of (a) young population of users as well and we know that these are the things that are very important to them.” – Martha Borja, Grab Financial Group Head
She clarified that the service is not focused on trading cryptocurrency but was leaning more on the acceptance of virtual currencies.
So far, cashing in through GrabPay is confirmed for cryptocurrency exchange Philippine Digital Asset Exchange (PDAX) and mobile crypto-wallet Coins.ph. The cash in option of PDAX and GrabPay was available since May of 2021.
Below, we breakdown the steps in cashing in or out using GrabPay.
To transfer your GrabPay balance to other e-wallets:
- Tap on the Transfer tile on your GrabPay Wallet. Select Send to e-wallet.
- Enter the amount you would like to transfer.
- Add or select a recipient of the transfer.
- Review your transfer details.
To cash out balance from Coins.ph:
- Open your Coins wallet and tap Cash Out:
- Select the GrabPay icon under the E-Wallets category:
- Enter the amount that you want to cash out:
- Input the details of your GrabPay account:
- Double check all details and slide to confirm:
- That’s it! The funds should reflect in your GrabPay account in less than 10 minutes.
As of writing, there is no update yet as to how to cash out in PDAX to GrabPay. GrabPay is also not listed yet as a cash out option for the platform.
This article is published on BitPinas: Grab: Filipinos Can Use GrabPay to Cash Crypto In and Out
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.