One Of The Philippines’ Largest Digital Banks Starts To Offer Crypto Services

 GoTyme Bank adds in-app crypto trading for millions of Filipinos, giving easy access to 11 digital assets through its partnership with Alpaca.

GoTyme Bank, one of the Philippines’ largest growing banks has launched fresh in-app crypto services for its user base. 

Millions of Filipinos can now buy digital assets through a simple process that fits inside the bank’s existing mobile app. 

The update was made possible through a partnership with US fintech firm Alpaca, which supplies the systems behind the new feature.

GoTyme Bank Adds Crypto to Its App

The new crypto service sits inside the GoTyme Bank app and gives users access to 11 digital assets. Options include Bitcoin, Ethereum, Solana, Polkadot and several other popular coins. 

The app converts pesos to USD during each purchase, and this removes the need for outside exchanges and separate wallets.

GoTyme CEO Nate Clarke said the goal is to create a smooth process for first-time buyers. Moreover, the bank avoids heavy charts and advanced trading modules in its app interface, and Clarke noted that the design focuses on people who want a direct path to crypto without having to juggle several tools.

Additionally, users can open a GoTyme Crypto USD account through their existing GoTyme Everyday account, and the setup process takes only a few minutes. 

The app also provides market data and simple news updates, all of which help new investors follow price changes without advanced analysis.

How Alpaca Supports the New Crypto System

Alpaca supplies the regulated framework behind GoTyme’s crypto functions. 

The platform works with millions of brokerage accounts around the world, and its API supports digital assets along with stocks, ETFs and options. Alpaca CEO Yoshi Yokokawa said the partnership helps GoTyme reach a wider audience through simple crypto access.

This setup keeps the buying process safe, and users only have to stay inside the GoTyme environment while Alpaca handles the technical parts of custody and trading. 

Crypto Use Grows Fast in the Philippines

The Philippines ranks ninth worldwide in crypto adoption based on recent figures from Chainalysis. 

Roughly 10% of the country’s population uses digital assets and that number may reach about 13 million within the next year. Besides, this is also possible because many Filipinos who use these services do not have full access to traditional banking. 

Thus, digital-first platforms give them more ways to store and move money.

Government attention has also grown. Moreover, lawmakers continue to study new guidelines and reserves tied to digital assets, and younger users make up a large share of the country’s crypto activity. 

GoTyme Bank matches these trends by offering account creation and debit cards within minutes. This way, users who already depend on the app for savings and payments can now take advantage of crypto from the same place.

Related Reading: Argentina Eyes Move from Crypto Ban to Regulated Bank Access

GoTyme Expands Across Southeast Asia

GoTyme Bank launched in late 2022 through a partnership between Tyme Group in Singapore and the Gokongwei Group in the Philippines. 

The bank now serves more than 6.5 million customers and Clarke has stated that GoTyme aims for growth rather than short-term earnings. 

The bank is preparing to enter other asian markets like Vietnam and Indonesia, both of which show rising interest in digital banking. And by so doing, GoTyme hopes to reach users who want quick account setup and simple financial services.

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