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Philippines digital currency company PayMaya rebrands to Maya

Byadmin2

May 6, 2022
philippines digital currency firm paymaya rebrands to maya min

Popular Philippines-based digital services platform PayMaya has actually rebranded to just Maya. The business rebrand cuts throughout more than its name as the online platform is debuting brand-new services to boot.

Regional news outlet Manila Publication reported that the name modification belongs to the launch of its certified digital loaning platform, Maya Bank. A brand-new mobile app was likewise released as part of the rebrand.

The app, called Maya, is referred to as an all-in-one cash app that incorporates the platform’s Maya Bank services with the e-wallet services PayMaya uses. The combination permits users to gain access to functions like digital currency investing, micro-investments, and insurance coverage from one location.

Maya Bank will likewise permit users to open a high-yield cost savings account with a 6% rates of interest. Throughout the launch, a number of crucial figures at the business talked about the significance of the rebrand.

According to Orlando B. Vea, the creator and CEO of PayMaya and now co-founder and board member of Maya, the rebranding will benefit all Filipinos. He kept in mind that the brand-new app will change how Filipinos handle their cash.

For his part, Shailesh Baidwan, PayMaya’s president and Maya Bank co-founder and board director, stated that the app is a leap forward for the business and will assist it bring in the brand-new generation of digital-first clients.

” We are jumping forward with a brand-new experience by constructing the nation’s all-in-one cash platform under Maya. And today, we are presenting our brand-new Maya app that integrates the very best of e-wallet, crypto, and digital banking,” stated Baidwan.

This rebranding is following Voyager, the platform’s moms and dad business, just recently clinched unicorn status following a $210 million financing round at a $1.4 billion assessment. The round was led by SIG Equity capital and Susquehanna International Group. Singapore’s EDBI and First Pacific Business, along with China’s Tencent, likewise took part in the financing round.

Digital currency companies stepping up in the Philippines

Voyager has actually not been the only business leading the Philippines’ digital currency market to break brand-new premises. Forbes just recently reported that the Philippines Digital Assets Exchange (PDAX) raised more than $50 million in a financing round led by Tiger Global Management.

The business in the area have actually been playing their part to drive more monetary addition amongst Filipinos. Likewise, the nation’s banking sector has actually ended up being more responsive to the market. In January, the UnionBank of the Philippines stated it would be presenting digital properties services in the nation.

The bank prepares to use digital currency trading and custodial services. It will likewise perform enormous education and sensitization of financiers and regulators alike, the bank asserted.

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