(Bloomberg) — Globe Telecom Inc. expects its fintech business to be a major contributor to growth, offering loans to millions of users of its mobile wallet GCash as well as a platform for cryptocurrency and stock investments, President Ernest Cu said.
“Crypto is one angle that we’re exploring but the biggest and most optimistic for us is on lending,” Cu said in an interview with Bloomberg Television’s David Ingles and Shery Ahn. It’s offering loans including a buy now, pay later product which is “very much ingrained” in the spending habits of Filipinos, he said.
Other Details
- The Ayala Corp. unit has developed platforms for equity and mutual funds trading as well as savings
- It will slow down its capital spending as it has built the infrastructure it needs, particularly in broadband and mobile
- Economic reopening has expanded Globe’s mobile business “very nicely” in the month of March. Growth is likely to be “healthy” this year, with school reopening to further boost demand
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