GCash Unveils Dollar-Based Crypto Trading

GCash Introduces USD Coin (USDC) to Expand Crypto Trading for Filipinos

MANILA, Philippines — Leading e-wallet platform GCash has integrated USD Coin (USDC) into its cryptocurrency feature, GCrypto, allowing Filipinos to trade a digital asset pegged 1:1 with the US dollar.

GCash announced that users can now buy, hold, receive, and transact with USDC through GCrypto, offering access to one of the most secure and transparent cryptocurrencies available.

Issued by global payment technology firm Circle, USDC is a fully reserved stablecoin backed by cash-equivalent assets, ensuring that every token remains redeemable for $1. Unlike unregulated cryptocurrencies, USDC operates under strict regulatory oversight, with reserves deposited in financial institutions and subject to publicly available monthly attestations.

As of March 13, Circle reported that there are $58.26 billion USDC in circulation, backed by $58.51 billion in reserves, ensuring high liquidity for users who wish to convert their holdings.

Transactions with USDC settle in seconds, 24/7, unlike traditional payment systems that require hours to process. Globally, USDC is supported by major financial networks such as MoneyGram, Visa, and Worldpay, enabling near-instant transactions at a fraction of a cent per transfer.

Arjun Varma, GCash’s group head of wealth management, emphasized that this partnership with Circle enhances financial inclusion in the Philippines.

“The integration of USDC into GCash marks a significant step in empowering Filipinos with access to a stable, globally recognized financial asset,” Varma said.

Meanwhile, Circle’s vice president for Asia Pacific, Yam Ki Chan, highlighted the role of digital assets in driving economic inclusion. He noted that GCash’s efforts in expanding financial tools align with Circle’s vision of enabling broader participation in the digital economy.

GCrypto is part of GCash’s growing suite of wealth management services, which also includes GSave, GStocks, and GFunds.

With rising crypto adoption in the Philippines, GCrypto has experienced nearly threefold growth in its user base in 2024, reflecting the increasing interest in digital assets post-pandemic.

source: https://www.philstar.com/business/2025/03/20/2429604/gcash-now-trading-dollar-based-crypto