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New collaboration enables seamless Peso-to-USDC conversion via GCrypto
GCash, the leading mobile wallet in the Philippines with millions of users to date, is offering Circle’s USDC, a fully reserved digital dollar, to millions of Filipinos. This collaboration allows GCash users to receive, buy, hold, or transact with USDC within their GCrypto wallets, providing a secure and accessible digital dollar for financial transactions and savings.
USDC is a fully reserved digital dollar 100% backed by highly liquid cash and cash-equivalent assets and redeemable 1:1 for US dollars. The reserves for USDC are held at regulated financial institutions with published third-party monthly attestations, providing a high level of transparency for GCash users. With USDC, GCash users can access a stable digital dollar that helps provide stability while facilitating seamless and cost-effective transactions in an evolving digital economy.
“The integration of USDC is a significant step in enhancing financial inclusion in the Philippines,” said GCash group head of wealth management Arjun Varma. “By offering easy access to digital dollars, we empower our users with a stable and globally recognized financial asset.”
“At Circle, we believe expanding access to digital financial tools drives economic empowerment,” said Yam Ki Chan, vice president, Asia Pacific for Circle. “We are excited that GCash is enabling millions of Filipinos to participate in the digital economy with confidence and security.”
Acquiring USDC is seamless — GCash users simply navigate to GCrypto within their GCash app, select ‘USDC’, and complete the conversion with their GCash balance. For more information, visit www.gcash.com or follow GCash on Facebook: @gcashofficial.
About USDC
USDC is an internet-native, fully-reserved, regulated digital dollar that leverages blockchain networks to enable businesses, developers, and individuals to conduct near-real-time, low-cost global transactions. It is a leading, fully-reserved global stablecoin issued through Circle’s regulated affiliates. To learn more about using or accessing USDC, visit USDC.com. To learn more about Circle’s regulatory authorizations, visit Circle’s Licenses page.
About GCash
GCash is the Philippines’ #1 Finance App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines.
GCash is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
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