Philstar
Borderless finance: How the new GCash Virtual US Account hopes to change the game for Filipino freelancers
GCash has launched its Virtual US Dollar Account, enabling Filipinos to receive US dollar payments and remittances directly into their GCash wallets without needing a US bank account.
The new feature, officially launched on November 21 with support from the DICT, DTI, and BSP, aims to address long-standing payment challenges for Filipino freelancers and OFWs in the gig economy.
Powered by Meridian Payments US, the virtual account allows eligible users to hold and manage USD payments from US companies and payroll platforms.
Users can also withdraw their received US dollars into Philippine Pesos (PHP) at competitive exchange rates.
This initiative supports the DICT's programs focused on digital work and empowering freelancers.
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