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GoTyme Bank Brings Crypto Trading to Its Mobile App

Key Takeaways

  • GoTyme Bank lets users buy and store 11 cryptocurrencies in its app, with automatic conversion from pesos to dollars;
  • The crypto feature focuses on simplicity, which helps users invest without complex trading tools or multiple apps;
  • Partnering with Alpaca, GoTyme aims to empower Filipinos to join the global digital economy and expand across Southeast Asia.

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GoTyme Bank Brings Crypto Trading to Its Mobile App

GoTyme, a digital bank in the Philippines, has begun offering crypto services through its mobile app.

This update was made via a collaboration with Alpaca, a US fintech firm. Users can now purchase and store 11 cryptocurrencies in the app, with automatic conversion from Philippine pesos to US dollars.

Among the available assets are Bitcoin BTC $91,569.29 , Ethereum ETH $3,129.46 , Solana SOL $135.94 and Polkadot DOT $2.15 .

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The feature aims to deliver an easy-to-use experience rather than more advanced trading tools. The bank's CEO, Nate Clarke, emphasized that the product is built for people who want to buy crypto without dealing with technical analysis or juggling multiple apps.

Yoshi Yokokawa, the CEO of Alpaca, stated that Alpaca’s partnership with GoTyme Bank will help millions of Filipinos grow their wealth and take part in the global digital economy with confidence.

GoTyme officially launched in October 2022, the result of a partnership between a Singapore-based unicorn group and a major Filipino conglomerate. As of now, the platform allows users to open a bank account and receive a debit card in about 5 minutes.

The platform is pursuing expansion into Vietnam and Indonesia to broaden its reach in Southeast Asia's digital banking industry.

On December 8, BPCE, a French banking group, announced plans to introduce crypto trading directly in its mobile applications. How does it work? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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