GoTyme, a digital bank in the Philippines with 6.5 million customers, has introduced cryptocurrency services through a collaboration with US fintech Alpaca. Users can now purchase and store 11 crypto assets, including Bitcoin, Ether, and Solana, directly in the GoTyme banking app, which facilitates automatic conversion from Philippine pesos to USD. The bank emphasizes simplicity and accessibility, aiming to allow users to buy crypto without the need for complex technical analysis. Launched in October 2022, GoTyme was established through a partnership between Singapore's Tyme Group and the Gokongwei Group in the Philippines. The app enables users to set up a bank account and debit card in just five minutes, enhancing access to crypto. With plans to expand into Vietnam and Indonesia, GoTyme is focused on rapid growth rather than immediate profitability, aiming to build a strong customer base. The Philippines ranks ninth in global crypto adoption, highlighting the country's increasing engagement with digital currencies.
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