Jeremy Allaire, co-founder of Circle, 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, planning to raise $1 billion to $1.5 billion, and in addition to payments, the application is also building its financial product suite.