GoTyme Bank Introduces Crypto Trading to Its 6.5 Million Users in the Philippines

GoTyme Bank, one of the fastest-growing digital banks in the Philippines, has launched a new feature enabling crypto trading for its 6.5 million customers. This initiative follows a partnership with the US fintech firm Alpaca.

Key Takeaways:

GoTyme Bank has introduced in-app crypto trading for its 6.5 million users, featuring 11 cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Solana (SOL), and Polkadot (DOT).
The service focuses on simplicity and user-friendliness, making it accessible to beginners without requiring knowledge of complicated trading systems or external exchanges.
GoTyme aims to expand its operations to Vietnam and Indonesia, prioritizing user growth over immediate profits.

The new feature allows users to purchase and store 11 types of cryptocurrencies directly within the GoTyme mobile app. All transactions will automatically convert Philippine pesos to US dollars, simplifying the process for customers.

Among the supported cryptocurrencies are Bitcoin (BTC), Ether (ETH), Solana (SOL), Polkadot (DOT), along with several notable altcoins.

Philippines’ GoTyme Bank Rolls Out Crypto Trading for its 6.5M Users

Aiming for Beginners with User-Friendly Crypto Trading

GoTyme emphasizes that its trading service is specifically tailored for newcomers in the cryptocurrency market. CEO Nate Clarke stated, “Our product focuses on simplicity and reliability, designed for people who want to buy crypto confidently without complicated technical analysis or managing multiple apps.”

Founded in October 2022 as a collaboration between Singapore’s Tyme Group and the Philippines’ Gokongwei Group, GoTyme has rapidly increased its user base. The bank offers a quick and easy onboarding process, allowing customers to set up a bank account and obtain a debit card in just five minutes—this convenience now also extends to crypto access.

Looking beyond the Philippines, GoTyme has ambitious plans for regional expansion. Clarke mentioned that they intend to enter the Vietnamese and Indonesian markets, aiming to secure a larger share of Southeast Asia’s fast-expanding digital banking sector.

Profitability is not a current focus for GoTyme. “We are very much still in a growth phase. We are not optimizing for profitability at the moment. What matters to us is building a growing and engaged customer base,” Clarke shared with The Digital Banker.

The Philippines: A Hotspot for Cryptocurrency Activity

The Philippines remains one of the most vibrant crypto markets in the world. It holds the ninth position in Chainalysis’ 2025 Global Crypto Adoption Index. Additionally, local lawmakers are considering a plan to establish a national strategic reserve that would be backed by 10,000 BTC.

Philippines’ Move Towards Blockchain Transparency

In a related development, Philippine Senator Bam Aquino is working on a bill that would transition the country’s entire national budget and governmental financial transactions to a blockchain platform. This effort aims to enhance transparency in public spending, allowing citizens to track every peso spent.

In August, Aquino expressed his belief that the proposal would enable “every peso” to be recorded on-chain, potentially leading to the creation of the world's first fully blockchain-integrated national budget.

The Philippines is increasingly becoming a testing ground for blockchain applications in the public sector. Recently, Congressman Miguel Luis Villafuerte introduced a separate proposal to create a strategic Bitcoin reserve of up to 10,000 BTC over a five-year period.

This bill states that the reserve can only be liquidated under strict circumstances, such as settling sovereign debts, and limits the sale to a maximum of 10% of the reserve within any two-year span after the minimum holding period has elapsed.

As of November 2024, the Philippines' national debt had escalated to ₱16.09 trillion ($285 billion), with domestic obligations making up nearly 68% of that total.