The LoyalWallet App is supervised by the Bangko Sentral ng Pilipinas through the Virtual Currency Exchange license.
Users can convert virtual currencies to fiat and vice versa and use supported currencies as mode of payment.
The LoyalWallet App facilitates the purchase of products/services, payment, import of tokens, currency conversion, remittance and bills payment. It is the main generator of transactions among merchants and customers in the ecosystem
LoyalWallet partners with LoyalCoin to activate wallet and payment services:
* Earn LYL through the purchases made through the LoyalWallet as it acts as a customer loyalty reward point.
* Pay with LYL through the LoyalWallet in order to avail products and services with partner merchants.
* Convert LYL to fiat currencies such as US Dollar, UAE Dirhams, Philippine Peso and other currencies.
* Remit through LoyalWallet.
In LoyalWallet 8.0.8- LoyalWallet is now supervised by the Bangko Sentral ng Pilipinas.