PANews reported on March 22 that Circle co-founder Jeremy Allaire announced on the X platform that the Philippine digital currency application GCash announced that its mobile wallet supports the US dollar stablecoin USDC, allowing users to receive, purchase, hold or trade USDC.

It is reported that GCash is currently preparing for an IPO, aiming to raise US$1 billion to US$1.5 billion. In addition to payment, the application is also building its financial product suite.