EBANX, a Brazilian technology company specializing in cross-border payment services, has announced its expansion into the Philippines through the integration of the country’s two leading e-wallets GCash and Maya.
The firm said in a statement on Monday that this strategic expansion into Southeast Asia opens the door for global merchants to reach one of the region’s fastest-growing digital economies, home to 118 million people.
“With e-commerce set to nearly double in three years and very low credit card access, the Philippines offers great potential and also solvable challenges, making it a perfect fit for EBANX and our merchants to expand,” stated João Del Valle, Chief Executive Officer and Co-founder of EBANX.
Cited the data from Payments and Commerce Market Intelligence (PCMI) sourced by EBANX, the statement highlighted the digital commerce in the country is projected to grow from $36 billion in 2025 to $61 billion by 2028, driven by 98 percent internet penetration.
In a country where the World Bank estimates only 3 percent of the population owns credit cards, EBANX noted digital wallets have become the most widely used payment method for online purchases, with a 38 percent share and growth of 28 percent in three years, well above the global average of 15 percent to 20 percent, based on PCMI data.
EBANX launched in the Philippines by integrating GCash and Maya, which together serve over 136 million accounts, surpassing the country’s population.
Starting now, merchants can offer both payment options at checkout, enabling local consumers to pay in Philippine Pesos (PHP) while the companies receive settlements in US dollars without the need to establish a legal entity in that region.
EBANX has also unveiled a new generation of products designed to strengthen global companies’ operations across Latin America, Africa, India, and Southeast Asia.
Key innovations include the ability to accept stablecoin payments, artificial intelligence (AI)-driven tools for improving the efficiency and security of digital transactions, and instant payouts through domestic rails. E
“Emerging markets are driving the future of digital commerce, and we are building the infrastructure to make that future accessible to businesses and consumers worldwide,
“Our investment in new products and our commitment to expanding them into new markets reflect our vision of a world where any business can serve any customer, regardless of location or local payment preferences,” Del Valle added.
It is noted that EBANX merchants will soon be able to accept payments in stable coins from customers in emerging markets, with settlement available in USDC or USDT, in addition to all fiat currencies currently supported by EBANX.
This solution offers a faster, more reliable, and flexible way to conduct cross-border commerce, especially in regions where banking systems are fragmented or inefficient.
“EBANX delivers the speed of blockchain with the convenience of traditional finance, enabling global companies to enter new markets faster, with seamless settlements and no infrastructure roadblocks,
“Stable coins are becoming the first truly global payment method, and their impact is especially powerful in emerging economies, where adoption is accelerating faster than anywhere else in the world,” explained Eduardo de Abreu, Vice President of Product at EBANX.
EBANX’s new stable coin offering will complement the company’s portfolio of more than 200 integrated payment methods, providing merchants with the flexibility to receive funds in USDC, USDT, US dollars, euros, or local currencies, alongside rapid settlement and full compliance support.