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08/12/25 22:51 UTC-04

Philippine Bank Launches Cryptocurrency Purchase and Storage Service

Philippine digital bank GoTyme has launched a service in its mobile app for purchasing and storing bitcoin, ether, Solana, Polkadot, and several other altcoins. The new feature is available to the bank’s 6.5 million customers.

The service operates through a partnership with U.S. fintech company Alpaca, which provides the technological infrastructure. Cryptocurrency purchases are processed through automatic conversion of Philippine pesos into U.S. dollars.

“Our product is built for people who want to buy cryptocurrency without complex technical analysis or managing multiple apps. For now, the service is focused on basic buying and storage operations. It’s important for us to build a growing and engaged crypto-oriented customer base,” said GoTyme CEO Nate Clark.

According to the executive, the new service will help the bank expand its presence in Vietnam and Indonesia, gaining market share in the rapidly growing digital banking sector of Southeast Asia.

GoTyme began operating in October 2022. The bank is a joint venture between Singapore-based Tyme Group and the Gokongwei Group conglomerate. GoTyme’s operations are regulated by the Central Bank of the Philippines, and deposits are insured by the Philippine Deposit Insurance Corporation (PDIC).

Earlier, one of France’s four largest banking groups — Banque Populaire and Caisse d'Épargne (BPCE) — announced the launch of a service allowing retail customers to buy and sell bitcoin, ether, Solana, and the USDC stablecoin.

See also: "JPMorgan explained the consequences of removing Strategy from stock indices"

#Bank #Philippine

Editor: Alyona Nabok
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