GCash Partners With Circle to Bring USDC to Millions, Launches ₱1M Crypto Promo

The partnership enables GCash users to receive, purchase, store, and transact with $USDC through their GCrypto wallets.

Local mobile e-wallet GCash recently announced its partnership with Circle to offer the stablecoin $USDC.

The partnership will allow users to receive, purchase, store, and transact with $USDC through their GCrypto wallets.

“This integration is a key step in advancing financial inclusion in the Philippines,” said Arjun Varma, Group Head of Wealth Management at GCash.

“By providing convenient access to digital dollars, we are empowering our users with a stable and globally recognized financial asset. At Circle, we believe that expanding access to digital financial tools drives economic empowerment and inclusion,” said Yam Ki Chan, Vice President, Asia Pacific for Circle.

“We are excited that GCash is enabling millions of Filipinos to participate in the digital economy with confidence and security.”

$USDC Raffle Promo on GCrypto

Earlier March, GCrypto launched a $USDC raffle promo, giving users a chance to win up to ₱1 million worth of $USDC.

The promo will run until April 27, 2025. To join, users must maintain a balance in their wallets to earn raffle entries.

The promo is open to KYC-verified GCrypto users in the Philippines, excluding employees and their relatives.

To qualify, participants need to buy or transfer at least 1 $USDC into their GCrypto wallets.

Weekly snapshots will determine the slots for the raffle. A total of 50 winners will receive 20 $USDC each week.

The grand prize winner will be selected based on the April 27 snapshot.

Snapshot Dates:

What is USDC?

USD Coin, commonly known for its ticker $USDC, is a fully reserved stablecoin that maintains a 1:1 peg to the U.S. dollar. It is issued by Circle and governed by Centre, a consortium that includes Circle and Coinbase.

Each $USDC is backed by cash and short-term U.S. Treasury assets, held in regulated financial institutions, ensuring stability and transparency.

These reserves are regularly attested to by independent third parties, reinforcing the trustworthiness of the token.

Furthermore, $USDC operates on multiple blockchain networks, including Ethereum, Solana, and Polygon, enabling fast and low-cost transactions.

It is widely used for various purposes such as payments, remittances, trading, and decentralized finance (DeFi) applications.

In essence, $USDC provides a convenient and widely accepted digital dollar in the evolving digital financial landscape.

How to Buy USDC in GCrypto?

Step 1: Open the GCash app and go to “GInvest.”

Step 2: Choose the GCrypto icon.

Step 3: Make sure that your GCrypto wallet has funds.

Step 4: Go to “Market” tab and choose $USDC.

Step 5: Choose the “Buy” icon.

Step 6: Enter the amount and confirm the transaction.

Recent GCash Updates

In 2024, the Bureau of the Treasury, in partnership with GCash and PDAX, announced the launch of GBonds.

The initiative aims to make government bonds more accessible to retail investors. This move is part of the Philippines' broader efforts to foster financial inclusion and accelerate digitalization within the economy.

Then in June of the same year, Globe CEO Ernest Cu stated that GCash is targeting an IPO in 2025.

The company may pursue a dual listing on a Philippine exchange and a U.S. exchange to provide liquidity to existing investors and capitalize on strong foreign interest.