Cash.ph, a digital asset trade within the Philippines, is pushing its marketing campaign for Web3 and monetary literacy and inclusion following a 12 months of notable progress in its decade-long historical past.
The corporate expanded globally with the launch of Cash.xyz and launched new merchandise and platform enhancements. These updates embrace a redesigned consumer interface (UI) for the app, the introduction of the pioneering Philippine Peso stablecoin, PHPC and the addition of Rewards Hub, an in-app loyalty and rewards program. Moreover, Cash.ph has elevated its digital forex choices, supporting over 100 tokens.
The use for cross-border funds
Jen Bilango, the Nation Supervisor of Cash.ph, emphasised the transformative potential of digital forex and Web3 know-how for Filipinos, particularly when it comes to cross-border funds.
“Among the best use instances for crypto is utilizing cross-border funds,” Bilango mentioned. “We’re making it simple for folks overseas to ship a reimbursement to the Philippines in a cost-efficient and fast method utilizing stablecoins. That is revolutionary as a result of if it can save you 20 to 30% on remittance charges, that’s cash straight into the pockets of your loved ones.”
Bilango highlighted that many Filipinos, because of the nation’s giant abroad workforce, rely closely on remittances. Digital forex options streamline these transactions, providing an economical and faster different to conventional banking strategies.
“The usage of stablecoins for remittances not solely reduces prices but additionally quickens the method, which is important for households counting on these funds,” she added.
Bridging monetary literacy and gaming
The rise of Web3 applied sciences within the Philippines has additionally contributed considerably to monetary literacy, notably by means of gaming.
“Within the final cycle, we noticed totally different communities rallying collectively to bridge the hole between monetary literacy and digital monetary inclusion. This has uplifted the lives of our youth by instructing them easy methods to work together with digital wallets and perceive monetary transactions,” Bilango identified.
The favored blockchain-based sport Axie Infinity, which gained traction in the course of the pandemic, supplied a further revenue stream for a lot of Filipinos, together with tricycle drivers and different casual staff. Pressman herself shared how she supported nearly a thousand Axie Infinity students, providing them a way to earn throughout difficult instances.
“It was one of many methods to provide again to the individuals who supported me earlier than,” she mentioned, expressing gratitude for the chance to make a distinction in folks’s lives.
Simplifying investments for Filipinos
Katrina Gonzalez, World Advertising Director of Cash.ph, spoke in regards to the obstacles to conventional funding alternatives within the Philippines and the way digital forex can supply a extra accessible different.
“It’s exhausting to put money into the Philippines should you’re only a common particular person. Establishing a buying and selling account for the inventory trade is an extended and institutional course of. Crypto gives accessibility to put money into belongings out of your telephone, even in small denominations,” Gonzalez defined.
“This ease of entry implies that any Filipino can take part in investments and have an opportunity at wealth creation, no matter their background or monetary standing,” she additional highlighted.
Educating and fascinating by means of partnerships
In a bid to interact extra Filipinos, particularly the youth, into studying extra about Web3, blockchain options and constructing belief in digital finance, Cash.ph struck a partnership with actress Yassi Pressman.
“We wished somebody who understands the business, somebody who went by means of the identical studying curve as all of us did. Yassi is not only a face for Cash; she’s a sounding board who understands why folks commerce and the ache factors of the Filipino economic system,” Bilango emphasised.
Gonzalez echoed this sentiment, highlighting the significance of constructing the digital forex much less intimidating and extra relatable.
“Our advert marketing campaign with Yassi was collaborative and stuffed with character. We aimed to deliver humor and lightness as a result of crypto may be intimidating. When you strive it and be taught by means of expertise, it will get simpler. Crypto is one thing everybody can do, irrespective of your background,” she mentioned.
The way forward for digital belongings within the Philippines
In keeping with Cash.ph, the corporate plans to proceed increasing its choices, making extra tokens out there to Filipinos and enhancing the accessibility of digital finance.
Bilango shared the corporate’s optimistic outlook, stating, “We’re already the biggest regulated trade within the Philippines, and we purpose to checklist extra tokens. Many initiatives need to enter the Filipino market, and we need to present that entry to our customers.”
A name to teach and empower
In a press occasion this month, Pressman shared her journey with digital forex, stating, “I’m honored to be a part of the Cash.ph household. Crypto has been part of my monetary journey and I’ve seen its potential to enhance lives by offering entry to monetary companies and alternatives for wealth creation.”
She additionally summed up the sentiment shared by the Cash.ph crew, highlighting the significance of training and accountable investing.
“It’s actually about educating your self and doing it at your individual danger. But when you realize what you’re doing and put money into the suitable issues, there is a chance for development,” the actress concluded.
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