In a public advisory, GCash stated that the cryptocurrency platform Bitget is not registered to operate in the Philippines. Furthermore, GCash confirmed it has no affiliation with the local e-wallet service.
The advisory was prompted by reports of certain crypto platforms, notably Bitget, allegedly utilising the GCash brand and logo in their online materials without authorisation.
GCash clarified that it has no system integration or official relationship with Bitget.
The advisory, posted on We Are GCash, the official corporate Facebook page for the e-wallet, urged users to exercise caution. A key message from the advisory was:
“Bitget is not registered to operate in the Philippines and is not affiliated with GCash – stay safe when using crypto platforms!”
The e-wallet service advised its users to ensure the official registration and authorisation of any digital services they utilise. This guidance serves as a measure to enhance account security.
For public safety and security, GCash directed users to refer to the Bangko Sentral ng Pilipinas (BSP)‘s official directory of licensed financial institutions, which is accessible on their website.
It was also noted that G-Xchange Inc. (GXI), the entity responsible for GCash’s mobile wallet operations, is regulated by the BSP. GXI is registered as a Supervised Electronic Money Issuer-Non-Bank Financial Institution.
Featured image by mk1ne on Freepik.
