PayMaya, a Philippines-based fintech and digital payments company, said on Wednesday that it has added features to its app that allow users to buy, trade, and earn cryptocurrency. With the launch of crypto services, the firm has strengthened its position as a leader in the digital payments market and made cryptocurrencies more accessible to Filipinos.
It has the most users of digital payments in the Philippines. Additionally, it is a licensed electronic money issuer (EMI) and virtual asset services provider (VASP) by the Bangko Sentral ng Pilipinas, the Philippines’ central bank.
PayMaya customers will be able to purchase key cryptocurrencies such as Bitcoin and Ethereum directly from the app without the need to register a new account or apply for an upgrade. It will assist customers in bypassing the time-consuming process of registering with crypto exchanges, creating crypto wallets, and complying with other KYC procedures. Customers may also use their PayMaya account to learn how to use cryptocurrency, purchase and sell cryptocurrency, spend their cryptocurrency profits, and do other things.
Registered users will be able to trade in a range of popular cryptocurrencies in Philippine Pesos immediately from their PayMaya wallet. Additionally, customers may purchase and sell cryptocurrency at any moment without incurring additional cash-in or cash-out costs. The PayMaya app now has over 40 million registered users.
Users will be able to purchase and sell cryptocurrencies other than Bitcoin and Ethereum, including Cardano (ADA), Chainlink (LINK), Uniswap (UNI), Solana (SOL), Quant (QNT), Polkadot (DOT), Polygon (MATIC), and Tether (USDT).
