One week ago, Globe Telecommunications announced a new capital infusion from Jack Ma’s Ant Financial and Ayala Corporation into its Globe Fintech Innovations subsidiary (officially, Mynt). Mynt launched in late 2015 as a sort of revamped and consolidated version of GCash and its microlending sibling Fuse Lending. It seemed like Globe was playing the classic catch-up game — just three months before, Smart had launched its new Paymaya platform, itself a revamped version of that old chestnut, Smart Money. (See my thoughts on Paymaya here.) A year has now passed and it seems Ernest Cu’s real plan has finally revealed itself, and it’s a bit of a…
Author: Luis Buenaventura
Author
Luis Buenaventura
Luis is a Manila-based entrepreneur specializing in cryptocurrencies, and has been focusing on the Bitcoin remittance space since 2014. With his startup Bloom, Luis helps money transfer businesses improve their processes with Bitcoin and the blockchain.