The Philippines’ prime payment provider augments crypto to its mobile app

April 7, 2022

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The Philippines’ prime payment provider augments crypto to its mobile app

PayMaya with its new feature aims to make it simpler for Filipinos to understand and use virtual currencies. The Philippines based major fintech company PayMaya has reportedly inaugurated a new digital currency feature on its application, stepping in the footsteps of PayPal, Venmo and others. As per TechInAsia, PayMaya users will be able to exchange, purchase, and expend digital assets utilizing their accounts. This is also part of PayMaya’s goal to give a detailed crypto package for the one curious about joining the market.

With the new feature, PayMaya conducts to make it simpler for Filipinos to understand and use digital currencies, as per the report. Similarly, it will eradicate the quickness for users to enrol with digital currency trades, establish a crypto wallet, and go through other KYC rounds. PayMaya is the Philippines’ biggest provider of digital payments. The PayMaya app has over 40M registered users.

Shailesh Baidwan, the president of PayMaya, remarked on the thriving popularity of digital currency among Filipinos. With the PayMaya e-wallet which is already a part of their daily life for everyday purchases and transactions, buyers now want to be able to purchase and earn crypto smartly. Therefore making it an integrated feature in our e-wallet application.

PayMaya users with upgraded accounts can rapidly exchange their Bitcoin and Ether for Philippine pesos. Other digital currencies accessible for trading in the area include Solana (SOL), Quant (QNT), Cardano, Chainlink , UNISWAP (UNI), Polygon (MATIC), Polkadot (DOT), with more coins to be added soon. ASEAN nations have endured a thriving interest in digital currencies and blockchain technology in recent years.

The Philippines,haves been at the lead of grasping digital assets and has even taken steps to govern the industry. The Philippine Department of Finance made it clear that it needs a portion of the revenues developed by playing Axie Infinity and other play and earn games, among the colossal success of the crypto-powered game Axie Infinity in the nation.

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