According to ChainCatcher, citing a report from Cointelegraph, Philippine digital bank GoTyme has launched cryptocurrency services. The bank, which has 6.5 million customers, has integrated crypto functionality into its banking app through a partnership with US fintech company Alpaca. Users can now buy and store 11 types of crypto assets through the app, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Polkadot (DOT). The system supports automatic conversion from Philippine Peso to US Dollar for transactions. GoTyme CEO Nate Clarke stated that the product focuses on simplicity and reliability, designed for users who want to confidently purchase crypto without complex technical analysis or managing multiple apps. According to reports, GoTyme was established in October 2022 as a collaboration between Singaporean unicorn Tyme Group and Philippine conglomerate Gokongwei Group. The bank plans to expand into the Vietnam and Indonesia markets, currently focusing on rapid growth rather than profitability, and does not expect to optimize for profitability before 2027.
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