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GoCrypto, the spot cryptocurrency trading product of GoTyme Bank, a digital bank jointly owned by the Gokongwei Group and Tyme Group, has launched in partnership with U.S.-based brokerage infrastructure provider Alpaca.
GoTyme x Alpaca
The new product allows GoTyme Bank customers to invest in 11 cryptocurrencies through a dedicated GoTyme Crypto USD account linked to their existing bank account.
Alongside exposure to these assets, GoCrypto also provides customers with real-time market insights and news to support informed investing, according to the digital bank.
For GoTyme, the launch targets everyday users, aiming to simplify crypto investing for those unfamiliar with technical trading apps, noting that the new product is designed for security, simplicity, and accessibility, leveraging Alpaca’s Broker API.
Available Tokens on GoCrypto:
- Aave (AAVE)
- Avalanche (AVAX)
- Bitcoin Cash (BCH)
- Bitcoin (BTC)
- Polkadot (DOT)
- Ethereum (ETH)
- Chainlink (LINK)
- Litecoin (LTC)
- Solana (SOL)
- Uniswap (UNI)
- Ripple (XRP)
Prior to this, GoTyme Bank confirmed in late October of this year that its crypto trading feature is moving from limited testing to a full nationwide rollout, with support for major assets. The digital bank said the expansion is part of its broader roadmap to deepen crypto access for users alongside upcoming payment integrations and investment services.
Prior to this, the bank activated its GoCrypto feature for select users in early October. GoTyme Bank noted that the limited release marks its entry into crypto trading.
GoTyme Bank is regulated by the Bangko Sentral ng Pilipinas as a virtual asset service provider (VASP), a license required to offer services and products related to digital assets, including cryptocurrencies. The digital bank was added to the list of VASP license holders in October 2024.
Worth Reading: List of Licensed Virtual Currency Exchanges in the Philippines
What is Alpaca?
Alpaca is a self-clearing broker-dealer known for its comprehensive brokerage infrastructure APIs. The company specializes in offering technology that grants access to a wide range of assets, including stocks, ETFs, options, fixed income, and cryptocurrency.
In the collaboration with GoTyme Bank, Alpaca’s primary role is to supply the underlying technology and crypto services through its subsidiary, Alpaca Crypto LLC, which is a registered VASP under the U.S. Financial Crimes Enforcement Network.
- This enables GoTyme Bank to integrate crypto investing into its platform.
- Utilizing Alpaca’s Broker API, GoTyme customers can easily fund a dedicated crypto USD account and leverage real-time market insights.
- The partnership uses GoTyme’s local license to ensure compliance.
This article is published on BitPinas: Alpaca Powers GoTyme Bank’s Crypto Trading Launch in the Philippines
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