PayMaya, the biggest online payment platform in the Philippines, has launched different features allowing account holders to buy and sell digital assets on its platform. As the digital payment company enlarges its borders into digital assets, it advances further its national leadership in the fintech sector, making digital currencies more available to citizens of the Southeast Asian country.
PayMaya Launches Crypto Features on its Application
PayMaya is the application with the largest gathering of Filipino fintech payment users, with over 40 million registered accounts on its trading app. From the digital payments company’s launch this morning, users on the application now have the opportunity to purchase virtual currencies like Cardano, Bitcoin, Tether, and Solana.
The good news about this development is that users now have the opportunity to freely veer into digital assets trading on the app without re-registering or requesting a special allowance. By implication, Philippine residents and new crypto traders can now avoid the rigorous processes involved in setting up a digital currency account.
For instance, new crypto traders have to go through a scrutinizing registration process with cryptocurrency exchanges, set up a digital wallet, and also meet up with other Know Your Customer demands.
PayMaya users can also learn how to trade in cryptocurrencies via their accounts. Commenting on the new development, the nation’s president asserted that PayMaya’s digital wallet has become a part of his citizen’s routine lifestyle. According to him, the increased interest in cryptocurrencies among Filipinos is one of the significant motivations for PayMaya’s introduction of the latest express crypto trading feature.
According to reports, users who register on the Filipino trading platform will have the opportunity of buying, selling, spending, and doing other things on their crypto platforms with their local currency. Additionally, account owners can trade in digital currencies whenever they want without any withdrawal or deposit charges.
Increasing Adoption of Cryptocurrency in the Philippines
There’s an increasing interest in cryptocurrency across Southeast Asian nations, with the Filipinos seeing an intensive increase within the last few years. Most of the time, according to reports, citizens make profits in digital assets through trading Axies and playing Axie Infinity.
According to Statista.com, a consumer statistics company offering data about global cryptocurrency users, many more Filipinos are adopting digital assets more than ever in recent times. As the country’s biggest trading platform, PayMaya, introduces options for trading digital assets through its e-wallet, we expect the nation to increase its reach into digital assets.
Indonesia Shows Signs of Increasing Crypto Usage
In similar development, in Indonesia, another Southeast Asian nation, celebrities seem to be leading the train in promoting crypto trading platforms and their usage, with remarkable results. Many celebrities and movie personalities in the county have recently become product ambassadors for different cryptocurrency projects and exchanges.
Notably, the participation of some of the celebrities even goes further to create their tokens. Two tokens making waves in the nation include VCG (VCG) and Asix. VCG started through a collaboration between a famous movie couple, Raffi Ahmad and Nagita, and RANS Entertainment. The latter, Asix, began through the initiative of a prominent musician in the country, Anang Hermansyah, whose token is massively contributing to the popularity of NFTs in Indonesia.