GCash, the Philippines’ number one finance app and largest cashless ecosystem, opens up new possibilities on blockchain technology by teaming up with Axie Infinity, the number one Web3 title, to improve the on-chain gaming community experience by opening a direct on-ramp and off-ramp portal in the app’s GCrypto feature.
With this partnership in place, the Filipino Web3 gaming community can safely transfer their cryptocurrency from the Axie ecosystem to GCrypto. They can also easily convert these in-game currencies into fiat money or Philippine pesos all within the same app. Users can also use GCrypto as a conversion portal for the other games in Sky Mavis’ Ronin ecosystem, including Pixels.
Moreover, this initiative ensures compliance with the most rigorous industry governance practices and implements new measures to make the user experience even safer and more secure.
“This collaboration is another step ahead in our mission to transform the potential of blockchain technology and to democratize it even more, going beyond the purchase, sale, and maintenance of cryptocurrencies in the GCash app. By working together with Axie Infinity and its Ronin ecosystem, we will continue to achieve our mission to remove the financial and technical barriers of crypto gaming while putting our user’s safety as a top priority,” GCash head of GCrypto Luis Buenaventura said.
Filipinos have dominated Axie's user base, comprising up to 50% of the total users. Similarly, Pixel's Filipino user base has also seen an increase, making the Philippines the largest geography for the game which has over 170,000 daily active users.
Aside from these games, Ronin also has Katana DEX, a decentralized exchange for trading of in-game tokens (like AXS and SLP) directly on the blockchain that is currently used by Axie, Pixels, and other games on the network. Recently, Sky Mavis relaunched Axie Infinity Classic and launched its merch store to introduce more people to Axie Infinity and onboard a new generation to Web3.
“The Philippines is the beating heart of Web3 gaming. GCash has over 80 million installs in PH and we’re ecstatic to bring economic freedom to this massive community. This partnership will make it even easier to onboard everyday people to our movement,” said Jeff Zirlin, Co-Founder and Chief Growth Officer at Sky Mavis.
About Mynt
Mynt is the first and only $5 billion unicorn in the Philippines. It's a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt operates two fintech companies: GXI, the mobile wallet operator of GCash — the #1 Finance App in the Philippines, and Fuse Lending, a tech-based lending company that gives Filipinos access to microloans and business loans.
About GCash
GCash is the Philippines’ #1 Finance App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines.
Mynt and GCash are staunch supporters of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
For more information, please contact:
Bruce Rodriguez, Head of Business Communications
Corporate Communications
Legal Disclaimer & Safe Harbor Statement
This press release is for informational purposes only and does not constitute, or form part of, any offer, solicitation, or invitation to sell, issue, purchase, or subscribe for any securities in the Philippines, the United States, or any other jurisdiction. No securities of Mynt, Inc. have been or will be registered under the U.S. Securities Act of 1933, as amended, and such securities may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. There will be no public offering of the securities of the Company in the United States. No money, securities or other consideration is being solicited by this document or the information contained herein and, if sent in response to this document or the information contained herein, will not be accepted. Any potential initial public offering and listing in the Philippines, if pursued, remain fully subject to prevailing market conditions and regulatory approvals, including the registration requirements of the Philippine Securities and Exchange Commission and the listing rules of the Philippine Stock Exchange, Inc., and there can be no assurance that any such filings will be made or that any offering or listing will be consummated. This document contains forward-looking statements that involve inherent risks and uncertainties; actual results, timelines, and outcomes may differ materially from those projected due to shifting market dynamics, economic environments, and regulatory updates.
