GoTyme Bank, which claims to be one of the fastest-growing banks in the Philippines and a JV between the Gokongwei Group and Tyme Group, announced the launch of its cryptocurrency investment feature. This launch was reportedly made possible in partnership with Alpaca, a global player focused on brokerage infrastructure APIs offering access to crypto, stocks, ETFs, options, as well as fixed income.
The demand for crypto continues to rise globally, “with the Philippines ranking ninth in adoption and 20th in crypto wealth.”
Currently, about 10% of Filipinos use crypto, and this “number is projected to reach 12.79 million users by 2026.” This growth is driven by the demand for digital-first financial solutions “among the country’s roughly 76% unbanked and underbanked population.”
The Philippines’ crypto-friendly environment is further “supported by the government’s positive stance on digital assets, a growing tech-literate population, and limited access to traditional financial services.”
Nate Clarke, President and CEO of GoTyme Bank said that the launch of GoTyme Crypto is yet another step “toward that vision as they continue to deliver financial solutions that combine security, simplicity, and innovation”
Clarke added that by partnering with Alpaca, they’re “bringing global expertise to local customers, ensuring they have the tools to confidently participate in the digital economy.”
Supported by Alpaca’s Broker API, GoTyme Bank customers can:
- Start investing by easily adding funds to their dedicated GoTyme Crypto USD account using their GoTyme Bank Everyday current account
- On-demand investment access to 11 selected coins, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL); and
- Leverage real-time market insights and news to support informed investing
The integration, combined “with a familiar interface and bank-level security, helps remove friction and makes investing approachable.”
Yoshi Yokokawa, CEO of Alpaca said that they are eager to support GoTyme Bank in “making crypto trading simple and accessible for everyday users and capturing the growing convergence of traditional finance and digital assets.”
They added that the Philippines is one of the earliest adopters of digital assets, and they’re pleased that with Alpaca, GoTyme Bank is “enabling Filipinos to build wealth and participate in the global digital economy,”