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Mobile wallet GCash, operated by Globe Fintech Innovations Inc. , has more than doubled its valuation after it secured fresh investments from Ayala Corporation and Japanese lender Mitsubishi UFJ Financial Group .In a statement, GCash said Ayala, through its wholly owned unit AC Ventures Holdings Inc. , is increasing its stakes in Mynt by an additional 8%.At the same time, MUFG ’s consolidated subsidiary MUFG Bank Ltd.
"Alongside this, Ayala’s unmatched commitment to Philippine economic growth & development, and its expertise in multiple industries will accelerate GCash’s mission," Sazon added.Yasushi Itagaki, senior managing corporate executive and head of Global Commercial Banking Business Group at MUFG said, GCash "is an indispensable infrastructure for everyday life of Filipinos and we are delighted to join Mynt as a strategic investor to support the growth of the company.
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