Firm eyes 20,000 PH users for new crypto wallet

Singapore-based firm Account Labs on Thursday said it is looking to onboard at least 20,000 Philippine users in the next six months for its recently launched crypto wallet called UniPass, pinning their hopes on the huge demand they see from the local freelancer market.

Account Labs CEO Lixin Liu said that they have been collaborating with a freelancer group of more than 300,000 members, citing that 5 percent of them are already using cryptocurrency in their remittances.“These people are like the low-hanging fruits [that we can tap] because we are already offering them a better solution,” Liu told reporters.

He added that they are also collaborating with local financial content creators in several online platforms, including YouTube and Tiktok, to promote the use of their Unipass wallet.Account labs touts UniPass as a smart contract wallet, with users able to use their Gmail and Apple accounts to set up and log into their Web3 wallet.The Singaporean company said that this eliminates the required complex 12-word seed phrases upon signing in crypto wallets.

UniPass users can also reload their wallets with Mastercard or Visa cards, or other digital wallets like GCash or Maya, as well as send stablecoins to other wallets without the need to move assets across different exchanges.

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The UniPass wallet also offers lower transaction fees on the average, ranging from $0.01 to $0.02 or approximately 50 centavos to P1, allowing users to save more and avail of reimbursements from three transfers each day,

Account Labs launched UniPass in the Philippines last month, marking their financial product’s first venture in the Southeast Asian region where it aims to bridge the digital financial gap and expand accessibility. INQ