PayMaya, Top Payment Service In The Philippines Has Included Cryptocurrency To Its Mobile App.

PayMaya hopes that the new feature would make it easier for Filipinos to learn about and utilize cryptocurrency.

PayMaya, a prominent fintech business located in the Philippines, is said to have added a cryptocurrency option to its app, following in the footsteps of PayPal, Venmo, and others.

The firm’s customers will be able to trade, buy, and spend digital assets using their accounts, according to TechInAsia. PayMaya’s goal is to provide a full crypto solution for everyone interested in getting into the market.

The company hopes to make it easier for Filipinos to learn about and utilize cryptocurrencies with the new functionality. It will also remove the need for consumers to register with cryptocurrency exchanges, establish a crypto wallet, and complete other KYC requirements.

PayMaya is the Philippines‘ leading digital payment service provider. It’s also a virtual money issuer (EMI) and virtual asset services provider (VASP) with the Philippines’ central bank, the Bangko Sentral ng Pilipinas. Over 40 million people have downloaded the PayMaya app.

The company’s president, Shailesh Baidwan, commented on the rising popularity of cryptocurrencies among Filipinos, saying:

“With the PayMaya e-wallet already a part of their everyday life for daily purchases and transactions, our customers now want to be able to buy and earn crypto smartly and seamlessly. That is why we are making it an integrated feature in our e-wallet app.”

Users with upgraded PayMaya accounts may exchange their Bitcoin (BTC) and Ether (ETH) for Philippine pesos instantly. Cardano (ADA), Chainlink (LINK), UNISWAP (UNI), Solana (SOL), Quant (QNT), Polkadot (DOT), and Polygon (MATIC) are among the other cryptocurrencies accessible for trading on the platform, with more to be added shortly.

In recent years, ASEAN nations have shown a rising interest in cryptocurrencies and blockchain technologies. The Philippines, in particular, has been in the forefront of embracing digital assets, even going so far as to regulate the sector. 

Despite huge success of the crypto-powered game Axie Infinity in the Philippines, the Philippine Department of Finance has made it obvious that it wants a portion of the revenues created by playing Axie Infinity and other play-to-earn games.

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