GCash has partnered with PayPal to introduce the PayPal USD (PYUSD) stablecoin to Filipino users. This integration allows seamless sending, buying, and holding PYUSD tokens directly within the GCash app via its in-app crypto feature, GCrypto.
PYUSD, issued by Paxos Trust Company, offers a unique advantage — stability. Unlike traditional cryptocurrencies known for price fluctuations, PYUSD is pegged to the US dollar, minimizing volatility. Additionally, it leverages multiple blockchains, including the high-speed Solana network, resulting in faster and cheaper transactions.
The introduction of PYUSD on GCash opens doors for Filipinos to leverage cryptocurrency in everyday life. Freelancers can now send and receive international payments with minimal fees. Additionally, PYUSD can be used for online purchases accepting stablecoins.
Cryptocurrency’s core strength lies in its secure, blockchain-based infrastructure. Each PYUSD token is unique and tamper-proof, ensuring secure transactions.
Moreover, crypto promotes financial inclusion through decentralized public ledgers, making it accessible to everyone.
How to open a GCrypto account
To use GCrypto for PYUSD transactions, users must be at least 18 years old with a fully verified GCash account. Additionally, users must have updated their profile information within the past three years and have a verified email address.
On the GCash App, tap on Invest, and go to GCrypto. Tap “Get Started”. Next, enter the 6-digit authentication code, and then tap “Submit” and tap “I Agree” to the terms and conditions. Fill out the Risk Profile questionnaire and tap Submit.
Read through all the agreements (e.g. Terms and Conditions, Privacy Policy, etc.) and click “I have read and agree to all of the following”, then tap “Go to GCrypto”.
If you are eligible and have followed the steps in opening a GCrypto account without encountering any errors or issues, your application will be approved immediately.
