Coins.ph, the leading Bitcoin and cryptocurrency exchange in the country, hit a record Php 8 billion pesos in trading volume for its over-the-counter (OTC) service TradeDesk in the first month of 2024 alone.
Coins TradeDesk provides top notch foreign exchange (FX) and cryptocurrency services for businesses, financial institutions and high-net-worth individuals. Whether it be FX, digital asset requirements, or a combination of both, the Bangko Sentral ng Pilipinas (BSP) licensed fintech enables its clients to achieve unparalleled speed and efficiency in their commercial dealings.
Among these clients is Seagulls, a company which helps mobile users send credit and settle bills effortlessly across 100 countries worldwide. Operating in an industry where swift and efficient cross-border FX transactions at competitive rates is core to its business, Seagulls found an efficient solution in Coins TradeDesk.
“Using Coins.ph’s TradeDesk has been a factor for our success,” said Jayro Franco, representative of Seagulls. “The real-time settlement and efficiency we’ve achieved through this has allowed us to expand our reach and offer even better value to our customers. We’re thrilled with the partnership with Coins.ph and look forward to our continued success together,” he added.
Through Coins TradeDesk,Seagulls has real-time settlement of cross border FX transactions using USDC, a stablecoin pegged 1:1 with the US Dollar. This streamlines their operations and allows the company to execute transactions seamlessly and cost-effectively to and from anywhere in the world.
Furthermore, Coins Tradedesk’s institutional liquidity and competitive pricing empower Seagulls with significant cost reductions. These savings are then passed on to their customers, optimizing Seagulls’ margins while enhancing the value proposition for their global user base.
“How Coins TradeDesk empowers Seagulls to achieve efficiency and speed in the latter’s business operations is exactly what we want to bring to other businesses in the Philippines. Digital assets such as stablecoins allow faster and cheaper settlement across borders and we see this being adopted more and more by businesses in the future,” said Wei Zhou, Coins.ph CEO.
