Philippines digital bank GoTyme, which has amassed 6.5 million customers, has introduced cryptocurrency services within the Philippines through a partnership with the US fintech firm Alpaca.
The banking app now facilitates the purchase and storage of 11 different crypto assets. These assets can be acquired through an automatic conversion from the Philippine peso to USD. The available cryptocurrencies include Bitcoin (BTC), Ether (ETH), Solana (SOL), Polkadot (DOT), and various other altcoins.
While it remains uncertain if GoTyme will introduce more advanced trading functionalities in the future, the current offering emphasizes simplicity and accessibility for users.
"Our product focuses on simplicity and reliability, designed for people who want to buy crypto confidently without complicated technical analysis or managing multiple apps," stated GoTyme CEO Nate Clarke.
GoTyme commenced operations in October 2022. Nikkei Asia reported in September that the bank had successfully built a customer base exceeding 6.5 million individuals in the Philippines.
The digital bank was established as a joint venture between Singapore-based unicorn Tyme Group and the Filipino conglomerate Gokongwei Group.
According to GoTyme's official website, the application is engineered to allow users to establish a bank account and obtain a debit card in under five minutes, indicating that users can expect convenient access to cryptocurrency services.
GoTyme's Expansion Plans in Southeast Asia
The company has outlined intentions to expand its operations into Vietnam and Indonesia, aiming to secure a significant market share within the rapidly expanding digital banking sector across Southeast Asia.
In a recent interview with The Digital Banker, Clarke indicated that the bank's primary objective is rapid scaling, with profitability not expected until 2027.
"We are very much still in a growth phase. We are not optimising for profitability at the moment. What matters to us is building a growing and engaged customer base," Clarke remarked.
The Philippines demonstrates a notable level of cryptocurrency adoption, having been ranked ninth on Chainalysis' 2025 Global Crypto Adoption Index. Furthermore, the Philippine government is reportedly considering a bill to establish a strategic reserve of 10,000 BTC.