Rising Demand for Digital Assets Across the Philippines
GoTyme Bank introduced a cryptocurrency investing service through its mobile app as part of its plan to expand access to digital finance in the Philippines. The bank partnered with Alpaca to enable purchases of 11 crypto assets for local users. This launch arrives as crypto adoption rises nationwide and reflects strong demand for digital-first solutions among millions of unbanked and underbanked Filipinos.
The Philippines ranks ninth worldwide in crypto adoption. It also holds the twentieth position in global crypto wealth, according to data referenced by GoTyme Bank. Around 10% of Filipinos currently use crypto. This number is expected to reach 12.79 million users by 2026.
The fact that there is a tech-savvy citizenry, coupled with poor traditional banking services, has led to increased interest. This is the case for 76% of the population in the Philippines, who do not have, or have limited access to, bank services. The increased use of digital platforms that provide faster access to financial products is evident among customers.
The administration’s open policy on cryptocurrency has also been a factor in the increase in adoption. The favorable atmosphere for the acceptance of cryptocurrency allows platforms to reach out to more people with their services.
A Partnership Designed to Expand Crypto Access
GoTyme Bank collaborated with Alpaca, a global brokerage infrastructure provider offering APIs for crypto, stocks, ETFs, options, and fixed income. This partnership enables GoTyme users to buy and store digital assets inside the GoTyme app.
Supported assets include Bitcoin, Ether, Solana, Polkadot, and additional major altcoins. Purchases are converted from Philippine pesos to U.S. dollars on the platform. Users can also add funds to a dedicated GoTyme Crypto USD account.
Nate Clarke, president and CEO of GoTyme Bank, said the launch aims to help Filipinos unlock their financial potential by offering secure, simple access to digital assets. He said the partnership brings global expertise to local customers. His comments reflect the bank’s intention to deliver tools that support participation in the digital economy.
An Phan, Portfolio Product Manager at TymeX, said GoTyme designed the crypto interface for everyday users. He noted that many platforms target experienced traders. He added that GoTyme intends to offer a simpler onboarding path for new investors.
A Central Role in Digital Banking Expansion
GoTyme Bank launched in October 2022 through a joint venture between the Gokongwei Group and Singapore’s Tyme Group. The bank grew rapidly through a frictionless onboarding system that allows users to open accounts and receive debit cards in minutes.
This same streamlined process now extends to crypto access. Users can invest without needing to switch between apps or platforms. Real-time market insights and news also appear inside the interface to support informed activity.
GoTyme plans to expand beyond the Philippines. Clarke recently said the bank aims to enter Vietnam and Indonesia. This expansion strategy targets Southeast Asia’s rising digital banking market. The push could allow GoTyme to serve users seeking new financial tools across the region.
The development introduces digital assets to people with limited investment exposure. It also shows how digital banks can integrate additional financial services. As Philippine banks observe this rollout, they may consider similar offerings, which could increase competition across the sector.