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 wallets within their GCash app, select ‘USDC’, and complete the conversion with their GCash balance.
This move follows GCash's broader mission to expand its reach and promote financial inclusion, echoing other efforts such as GCash's partnership with barangays for digital payments and community digital transformation.
For more information, visit www.gcash.com or follow GCash on Facebook.
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.
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 — 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. It’s also leading digital finance innovation through trusted fintech partnerships and supporting data privacy education for Filipinos.