Last September 21, Coins.ph, the country’s leading cryptocurrency exchange and digital wallet, celebrated the opening of their new office in Bonifacio Global City (BGC) with their various partners and government stakeholders. The opening commemorated a string of innovations over the past year. The senior leaders enumerated the milestones, as well as their future expansion plans.
“The Philippines is a global leader in the adoption of digital assets, ranking 2nd in the world in the 2022 Global Crypto Adoption Index by US-based firm Chainalysis. Also, in a recent report by global blockchain company ConsenSys, it found that 76% of Filipinos had at least some level of familiarity with Non-Fungible Tokens (NFTs),” said Jen Bilango, Philippines Country Manager of Coins.ph.
“We at Coins.ph are at the forefront of driving this adoption and are constantly innovating to ensure our customers have access to world-class products and services that allow them to access opportunities in Web3 and blockchain-enabled services.”
Coins.ph recently pioneered several firsts in the country’s fintech and Web3 industry such as the launch of Coins Pro, a digital currency exchange platform where Filipinos can trade over 50 cryptocurrencies using Philippine Peso (PHP).
Through this platform, traders and retail investors can trade via web and app at the lowest fees when compared with other licensed exchanges. The order book exchange also allows Filipinos to trade stablecoins to PHP. And luckily, users can enjoy zero fees on USDT/PHP and USDC/PHP pairs for the month of September.
Coins.ph caters to gamers as well through the launching of its game center within the app called Coin Arcade. On this platform, Filipinos can both discover and play various blockchain games wherein the rewards from said games will go straight to the Coins.ph Web3 Wallet. To date, over 65,000 Coins users have created a Web3 Wallet in the app.
“We built the Web3 Wallet to make it easier for Filipinos to access the broader Web3 ecosystem and decentralized applications in a secure and user-friendly manner. Currently, Web3 services are difficult to use, you have to create various wallets to play different games or swap tokens on several chains. Users are also solely responsible for securing seed phrases which, if lost, results in the loss of whatever digital assets are in that wallet, forever,” said Wei Zhou, CEO of Coins.ph.
“With a Coins Web3 Wallet they no longer need to think about this, and can more easily and safely access Web3 applications in the app. The first use case is Coins Arcade, and by the end of this month, we’re happy to announce that we’re launching token swaps via the Coins Web3 Wallet too,” Zhou added.
Even with its stacked list of numerous milestones from the past year, Coins.ph is just getting started. They have announced plans to go global and penetrate new markets in Southeast Asia and beyond.
“Many might not know that Coins has had operations in Thailand for a few years now, and we’re looking to enter new markets in the near term. As a regulated company, we’re securing licenses to operate in the countries we will expand to. What we share with our stakeholders in government is a mission to drive an inclusive financial system as well as robust and safe digital asset adoption as we’ve seen here in the Philippines and hope to see soon in other parts of the world as well,” said Zhou.
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