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Philippine-based Financial Technology company PayMaya has launched a new feature on its app. Users can trade, buy, spend digital assets with their accounts. This is also part of PayMaya's goal to provide cryptocurrency services to anyone interested in entering the market.
With this new feature, PayMaya intends to help Filipinos learn and use cryptocurrencies in a simpler way. In addition, it will help users register with other cryptocurrency exchanges, create wallets and make KYC rounds easier.
PayMaya is the largest provider of digital currency payments in the Philippines. It is also the emi money issuer and digital asset services (VASP) licensed by Bangko Sentral , the central bank of the Philippines. The PayMaya app has more than 40 million registered users.
PayMaya Chairman Shailesh Baidwan said cryptocurrencies are increasingly popular with the people here: "PayMaya e-wallets are an integral part of everyday trading. Our clients can now trade cryptocurrencies easily. That's why we integrate e-wallets on PayMaya."
users PayMaya users whose accounts will be upgraded to directly trade their Bitcoin (BTC) and Ether (ETH) for philippine pesos. Other cryptocurrencies available to trade on the site include Cardano (ADA), Chainlink (LINK), UNISWAP (UNI), Solana (SOL), Quant (QNT), Polkadot (DOT), Polygon (MATIC) with more coins that will soon be added.
In recent years, ASEAN countries have become increasingly interested in cryptocurrencies and blockchain technology. In particular, the Philippines has been at the forefront of adopting digital assets and has even taken steps to regulate the industry. The Philippine Ministry of Finance has made it clear that it wants a portion of the profits generated by playing Axie Infinity and other money-making games, amid the brilliant successof the cryptocurrency game Axie Infinity in the country.
