Day 2 of the Philippine Blockchain Week 2023 offers a glimpse of the future of the banking sector, the challenges that lie ahead, and the Philippines' exploration of AI technology.
Maya, which raised $210 million in 2022, is now reportedly seeking to inject $150 million to boost growth, taking its valuation to $2 billion amid its plans to diversify into digital assets.
Maya cautioned users over a new mobile application dubbed Maya Trade which falsely claims to be affiliated with the fintech firm, warning that the new platform could be a scam.
The event, to be held on October 17-21, will feature key Southeast Asian fintech giants and focus on the rise of ASEAN region’s profile as a global fintech hub.
The fintech firm highlights the vast benefits Filipino users can reap by using blockchain technology, including promoting financial inclusion, ease in buying goods, and swift transaction times.
Dito CME believes that with a population of 110 million and a media age of 25, the Philippines has the numbers to dominate the blockchain sector in Asia.
GoTyme and UnionDigital Bank recently got the green light from the Bangko Sentral ng Pilipinas (BSP) and have now started operations, taking the number of digital banks in the country to six.
The name change is part of PayMaya's launch of its licensed digital lending platform, Maya Bank, and a new mobile app will also be launched as part of the rebrand.
