The Philippines’ top payment provider adds crypto to its mobile app

PayMaya, a major fintech company based in the Philippines, has actually released a brand-new cryptocurrency feature to its app. This follows PayPal, Venmo, and other popular crypto companies.

According to the report, PayMaya prepares to make it simpler for Filipinos find out about and to utilize cryptocurrency. It will also remove the need for users to register on cryptocurrency exchanges, develop crypto wallets, and go through extra KYC procedures.

PayMaya is the largest supplier of digital payment services in the Philippines. It is likewise a virtual money company (EMI) in addition to a service provider of virtual asset services (VASP), and licensed by the Bangko Sentral ng Pilipinas (the Philippines central bank). PayMaya has more than 40 million users.

TechInAsia reports that PayMaya users can trade, purchase, and spend digital possessions through their accounts. This is part of PayMayas plan to supply a complete crypto plan to anybody interested in entering the market.

PayMayas president Shailesh Baidwan commented on the rising popularity of cryptocurrency among Filipinos, saying:

PayMaya customers with updated accounts have the ability to trade Bitcoin (BTC), Ether (ETH), for Philippine pesos. Cardano (ADA), Chainlink, UNISWAP( UNI), Solana [SOL], Quant (QNT], Polkadot (” DOT”), Polygon (MATIC), and many other cryptocurrencies are readily available to trade on the website. More coins will be included the future.

PayMaya clients desire to be able buy and make crypto wisely and flawlessly, with the e-wallet already an important part of their daily lives for deals and purchases. We have made it an essential function of our e-wallet application.

Related: Pilot CBDC execution in the Philippines

PayMaya is the biggest supplier of digital payment services in the Philippines. PayMaya has more than 40 million users.

In recent years, ASEAN nations have seen a rise in interest in blockchain innovation and cryptocurrency. The Philippines has been a leader in welcoming digital assets, and even took actions to regulate it. The Philippine Department of Finance stated that it would like a share of the revenues from Axie Infinity, and other play-to earn video games, in spite of the substantial success of Axie Infinitys crypto-powered version.
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PayMaya consumers with upgraded accounts are able to trade Bitcoin (BTC), Ether (ETH), for Philippine pesos., Polkadot (” DOT”), Polygon (MATIC), and many other cryptocurrencies are offered to trade on the website.

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