By
Chimamanda U. Martha
April 25th, 2024
By partnering with Axie Infinity and its Ronin sidechain network, GCash seeks to provide Filipino web3 gamers with a practical and regulated alternative.
GCash, the leading mobile wallet app in the Philippines, has announced a strategic alliance with Axie Infinity and Ronin, two of the most prominent crypto gaming platforms. This collaboration aims to improve access to blockchain-based gaming, or web3 gaming, in the country, specifically addressing challenges posed by recent crypto regulations.
By partnering with Sky Mavis’ Axie Infinity and its Ronin sidechain network, GCash seeks to provide Filipino web3 gamers with a practical and regulated alternative. Axie Infinity is considered one of the pioneering and most successful web3 games. The game runs on Ronin, a sidechain built specifically for blockchain gaming that allows fast transactions with low costs.
The Philippines has one of the most active web3 gaming communities globally. However, recent issues with crypto exchange platform Binance have caused some challenges for users. This makes GCash an ideal alternative, as it is used by over 80% of internet users in the Philippines for financial services.
According to GCash President and CEO Martha Sazon, this collaboration aligns with their mission to make blockchain technology more accessible and useful for everyday use. By simplifying the cashing-out process, GCash and its partners hope to remove the financial barriers often associated with crypto adoption.
Beyond the basic buying and selling of cryptocurrencies, this partnership aims to create a seamless experience for users to engage with web3 platforms like Axie Infinity. Assistant Vice President Luis Buenaventura said merging web3 gaming with GCash’s financial technology will result in an exciting innovation that prioritizes user experience and enjoyment.
While full details of the functionality and launch timeline are yet to be revealed, the shared vision is clear. Allowing users to integrate gameplay directly with financial services provides convenience, enhances accessibility, and circumvents recent regulatory hurdles.
This collaboration reflects a proactive response to support the fast-growing blockchain gaming industry amidst an expanding crypto regulatory environment in the Philippines. By leveraging GCash’s huge user base and combining financial services with web3 gaming, this strategic alliance aims to take full advantage of the technology’s potential. Seamless integration allows gamers to securely cash out their earnings or convert fiat money into crypto to fund their gameplay.
Blending these innovations with robust existing financial infrastructure is key to widespread adoption. As the next evolution of digital finance, the collaboration between GCash, Sky Mavis’ Axie Infinity, and Ronin sidechain ushers in an exciting new era for the Philippines’ bustling community of web3 gamers.
Binance to List Ronin for Spot Trading
In another development that signals growing mainstream adoption, leading crypto exchange Binance has announced plans to list the Ronin token (RONIN) for spot trading. This is a significant endorsement of Ronin amidst regulatory uncertainties in the Philippine crypto space. With Binance facilitating trading in the token paired with major cryptocurrencies, it enables easier access to a wider investor base who could previously not invest directly in it. This liquidity can catalyze the further growth of blockchain-based gaming platforms like Axie Infinity, which use the Ronin sidechain network.