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PayMaya expects that if this new tool works successfully for Filipinos, it will simplify learning about and utilizing cryptocurrencies.
PayMaya has added a cryptocurrency option to its app, similar to what PayPal, Venmo, and others have done. According to TechInAsia, PayMaya consumers will be able to trade, purchase, and spend digital assets using their money.
PayMaya wants to ensure that everyone interested in entering the crypto realm has access to everything they need. According to a study, PayMaya's new tool makes it easy for Filipinos to learn about and utilize cryptocurrency. Additionally, it will eliminate the need for individuals to register with bitcoin exchanges, create cryptocurrency wallets, and take additional steps to verify their identity.
PayMaya is the Philippines’ leading digital payment provider. The central bank of the Philippines, Bangko Sentral ng Pilipino, is also a virtual money issuer (EMI) for virtual assets (VASP). Over 40 million individuals have used it.
Shailesh Baidwan, president of PayMaya, stated that Filipinos are growing increasingly interested in cryptocurrencies:
“With the PayMaya e-wallet already a part of their everyday life for daily purchases and transactions, our customers now want to be able to buy and earn crypto smartly and seamlessly. That is why we are making it an integrated feature in our e-wallet app.”
If you have an upgraded PayMaya account, you may immediately trade your Bitcoins (BTC) and Ether for Philippine pesos. On the site, you may trade cryptocurrencies such as Cardano (ADA), Chainlink, and others, such as UNISWAP, SOLANA, and Quant. More will be added shortly, and more cryptocurrencies will be tallied as time passes.
Over the last several years, members of the Association of Southeast Asian Nations have shown a growing interest in cryptocurrencies and blockchain technology. Digital assets have grown in popularity in the Philippines to the point that the nation has enacted legislation to regulate the business. Axie Infinity has been an enormous success in the Philippines, but the Philippine Department of Finance has made it clear that it wants a portion of the revenue generated by the game and other pay-to-play games.
