Cryptocurrency exchange and digital wallet firm Coins.ph celebrated its new office opening in Bonifacio Global City (BGC) with partners and government stakeholders.
Coins.ph also announced plans to go global and penetrate new markets in Southeast Asia and beyond.
The event commemorated a string of innovations over the past year. A Coins.ph senior executive shared myriad milestones that the company, which now has 10 million users, has accomplished as well as expansion plans for the homegrown startup.
“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),” 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.”
In driving innovation and advocating for an inclusive financial future, 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 Coins Pro, 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 for the month of September, users can enjoy zero fees on USDT/PHP and USDC/PHP pairs.
Coins.ph is also the first exchange in the country to cater to gamers by launching a game center within its app called Coins Arcade. Here, Filipinos can discover and play various blockchain games and the rewards from these 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,” Wei Zhou, CEO of Coins.ph, said.
“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 the many milestones Coins.ph has achieved in the past year alone, the homegrown start up is just getting started.
“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,” Zhou said.