YEREVAN (CoinChapter.com)
—GCash, the largest digital wallet in the Philippines, now supports Circle’s USDC stablecoin. Users can access the new feature through GCrypto, the wallet’s in-app crypto platform. This allows Filipinos to buy, hold, and send USDC, a digital dollar pegged to the US dollar.
The new feature supports financial transactions without traditional banks. According to local media, the GCash USDC integration became public as part of the company’s ongoing effort to expand its crypto services.
Arjun Varma, Group Head of Wealth Management at GCash, said,
“By offering easy access to digital dollars, we empower our users with a stable and globally recognized financial asset.”
This quote was shared through local news coverage of the announcement.
GCash USDC Integration Uses Stable, Transparent Asset
Circle’s USDC is pegged to the US dollar and is less volatile than cryptocurrencies like Bitcoin and Ethereum. This makes USDC more suitable for regular payments and storing value. The GCash USDC integration aims to serve millions of users in the Philippines, where banking services are often costly or unavailable.
Jeremy Allaire, CEO of Circle, commented on the scale of the integration.
“The largest and most widely used digital money app in the Philippines, GCash, just announced support for USDC in their mobile wallet. Another ~100M users being brought into Circle’s stablecoin network,”
he wrote.
Stablecoin Adoption in the Philippines Faces Infrastructure Challenges
Some users in the Philippines have raised concerns about existing financial systems. One comment described the country’s payment networks as “some of the worst rails and ramps in the world.” The GCash USDC integration gives users an alternative that avoids traditional payment delays.
The adoption of Circle’s USDC may still face friction. Issues of transparency during transactions have been raised. Ignas, a DeFi researcher, said,
“Crypto payments failed for one small reason that needs fixing: When sending USDC, let the recipient see the transaction but not your address.”
This concern reflects the challenge of maintaining privacy while using public blockchain networks. For daily transactions, showing wallet addresses can discourage regular use.
Circle Expands USDC Through GCash Amid Stablecoin Competition
The move by GCash supports Circle’s broader growth plans. The company is expanding USDC stablecoin access in markets outside the United States. The partnership with GCash brings the digital dollar to over 100 million users in the Philippines.
Circle’s USDC now competes directly with other stablecoins such as Tether. At the same time, traditional banks like Bank of America are exploring stablecoin services. These developments show increasing activity in stablecoin adoption across both fintech and banking sectors.
The GCash USDC integration makes it possible to buy, hold, and send the digital dollar without needing a separate crypto exchange. The feature is built directly into the GCrypto platform inside the GCash app.
One user posted,
“GCash’s USDC move puts a global digital dollar in 100 million Filipino hands. Stablecoins might just leapfrog banks in places like this.”
The development signals increased interest in blockchain-based payment tools in Southeast Asia. The GCash USDC integration shows how mobile wallets in the Philippines are incorporating stablecoin adoption into existing services.