Sunday, March 3, 2024

Coins.ph forms alliance with 4 crypto exchanges in SE Asia

Local cryptocurrency exchange Coins.ph has established the Digital Asset Exchange Alliance (DAEA) together with other licensed exchanges in the region, namely Coinhako (Singapore), Indodax (Indonesia), and Bitkub (Thailand).

“Coins.ph is excited to work with our regional counterparts in advancing the responsible and secure use of cryptocurrencies, and promoting the development of user-friendly and compliant products for users” said Wei Zhou, CEO of Coins.ph.

“We believe that the combined efforts of this Alliance will contribute to building a stronger, more resilient cryptocurrency ecosystem in Southeast Asia,” he added.

The alliance aims to enhance regulatory advocacy by harnessing the collective expertise and experience of the four founding exchanges. Additionally, it seeks to foster collaboration by sharing protocols and best practices, thereby elevating service quality and bolstering security measures.

Furthermore, the alliance aims to educating users about the benefits of trading on licensed exchanges and the importance of following regulatory guidelines. This extends to promoting financial literacy, consumer protection and responsible trading practices in the crypto space.

“This Alliance is a significant milestone for Coinhako and the entire cryptocurrency industry. We believe that licensed exchanges have a vital role to play in fostering trust and growth in the crypto space. By collaborating with Coins.ph, Indodax, and Bitkub, we are taking a monumental step towards building a safer and more transparent ecosystem for users in the region,” stated Coinhako CEO Yusho Liu.

Coins.ph along with Coinhako, Indodax, and Bitkub are placing emphasis on security and trust which they said reflect the licenses they obtained from their respective regulatory bodies.

“Bitkub is committed to providing a secure and compliant trading platform for our users. This Alliance is a significant step toward ensuring that the cryptocurrency industry in our region continues to evolve responsibly,” said Bitkub CEO Atthakit Chimphalapibul. “By working closely, we can create a significant impact on shaping the regulatory framework and fostering trust,” he added.

Bringing together these leading exchanges, the alliance said it will promote and advance digital asset adoption while adhering to the highest industry standards.

“We are thrilled to be a part of this initiative and we look forward to sharing our experiences in navigating the regulatory landscape in Indonesia. Together with Coins.ph, Coinhako and Bitkub, we aim to create a collaborative network of licensed exchanges that sets the industry standard for compliance and user safety,” shared Willam Susanto, CTO of Indodax.

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