Philippine digital bank GoTyme has 6.5 million customers and has launched crypto services in the Philippines, having previously partnered with U.S. fintech company Alpaca.
Currently, the GoTyme banking app offers 11 types of crypto assets for purchase and storage, with transactions completed by automatically converting Philippine pesos to U.S. dollars, including Bitcoin, Ethereum, Solana, Polkadot, and a range of other altcoins.
It is unclear whether the company will offer more complex trading services in the future; however, its focus seems to be on simplicity and ease of use.
"Our products focus on being simple and reliable, aimed at those who want to confidently purchase cryptocurrencies without complex technical analysis or switching between multiple apps," said GoTyme CEO Nate Clarke.
GoTyme was launched in October 2022. According to a report by Nikkei Asia in September, the bank has built a customer base of over 6.5 million people in the Philippines to date.
This digital bank was formed in collaboration between Singapore-based unicorn Tyme Group and the Philippine conglomerate Gokongwei Group.
According to GoTyme's official website, the app is designed to allow users to open a bank account and debit card within 5 minutes, meaning users can easily access cryptocurrencies.
The company plans to expand to Vietnam and Indonesia, aiming to capture market share in the rapidly growing Southeast Asian digital banking sector.
According to a recent article by The Digital Banker, Clarke stated that the bank is focused on rapid expansion and will not prioritize profitability until 2027.
"We are still in the growth phase. We are not currently optimizing for profitability. What matters to us is building a continuously growing and highly engaged customer base," Clarke said.
The Philippines is not weak in cryptocurrency adoption, ranking ninth in Chainalysis's 2025 Global Cryptocurrency Adoption Index top 20, with the government weighing a bill to establish a strategic reserve of 10,000 bitcoins this year.
Related: Vitalik Buterin proposes introducing Gas futures on Ethereum (ETH) to hedge against the risks of soaring transaction fees.
Original article: “Philippines' Fastest-Growing Digital Bank Launches Crypto Services”
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