Philippines' fintech achieves unicorn status after embracing crypto payments

Voyager reportedly plans to integrate cryptocurrencies, micro investments and insurance products into PayMaya, which already includes a digital wallet.

Voyager Innovations, the firm behind the Philippines' top digital payments app Paymaya, has announced it has achieved unicorn status after a recent round of funding, surpassing a $1 billion valuation. 

Voyager Innovation announced  Tuesday that the new $210 million capital boosted its valuation to $1.4 billion. The company highlighted that the new funds will be used to develop the crypto offerings, which it recently added to its flagship digital payments app PayMaya.

As reported by Cointelegraph, PayMaya recently introduced crypto services into the app, allowing consumers to buy, sell and earn crypto. The money will be used to develop the crypto offerings further. PayMaya also recently obtained a Virtual Asset Services Provider (VASP) license from the Philippine Central Bank. The firm will also invest the cash in PayMaya-branded digital bank services, such as savings and credit.