Philippine digital bank GoTyme launches cryptocurrency service

Odaily reports that GoTyme, a Philippine digital bank with 6.5 million customers, has launched cryptocurrency services in the Philippines after partnering with US fintech company Alpaca. Currently, users can automatically convert Philippine pesos to US dollars through GoTyme's banking app, and then purchase and store 11 crypto assets, including Bitcoin, Ethereum, SOL, DOT, and numerous other altcoins. It is unclear whether the company will offer more complex transaction services in the future; however, its focus appears to be on simplifying operations and improving convenience. The company plans to expand to Vietnam and Indonesia, aiming to capture market share in Southeast Asia's rapidly growing digital banking sector.

GoTyme was officially launched in October 2022. It was established through a collaboration between Singapore-based unicorn company Tyme Group and Philippine conglomerate Gokongwei Group. (Cointelegraph)