Coins.ph aims to strengthen its roots locally to be globally competitive

POPULAR POST

Coins.ph Marks 10th Anniversary with 10% Rewards on USDC

To celebrate Coins.ph’s 10th year as the Philippines' leading crypto platform, the exchange is giving users 10% rewards on USDC this February under its...

No NFT, No Entry – How Stanible got into...

Editor's Note: This is an op-ed from Stanible founder Harry Santos on the trials and tribulations of onboarding the general public and making them...

Empowering the Future: Web3PH Hosts Gathering for Tech Leaders

 In a groundbreaking initiative to propel the nation into the digital forefront, Web3PH, in collaboration with the Department of Information and Communications Technology (DICT)...

Superteam Philippines Accelerates Web3 Journey with Grand Launch Event

Superteam, the distributed talent layer of the Solana Ecosystem, officially launches its operations in the Philippines with a dynamic event at the Marquis Events...

Filipino gamers can win exciting rewards from Aura and...

Filipino gamers are offered fun and unique opportunities as Singapore-based Web3 gaming platform Aura has partnered with Web3 game The Red Village. Aura, the exclusive...

Web3 focused Metasports.GG holds industry screening for ‘GG The...

GG The Movie revolves around Seth, an aspiring professional esports player, who navigates the Philippine stigma and challenges in trying to achieve that goal.


Crypto company Coins.ph wants a “thriving” ecosystem of crypto exchange in the Philippines to be have a fair chance in the global scene, in light of its international expansion for the year 2024.

Wei Zhou, Coins.ph chief executive officer, said in a media round table held last Thursday that they want the Philippines to become a centralized exchange for cryptocurrencies beyond the national borders.

The CEO sees the importance for the country to establish a “live exchange,”  saying that he wants to make the products that Filipinos consume.

Wei Zhou, CEO of Coins.PH wants to list more Filipino led project tokens into their exchange.



“What we’re doing right now is we’re bringing the best of the tokens globally to our users here. What we hope to do is to bring homegrown tokens or projects to a global audience,” he told reporters during a media briefing in Shangri-La, The Fort, in Taguig City.

The company announced recently that it is entering the Australian market after acquiring an Australian Transaction Reports and Analysis Centre (AUSTRAC) Digital Currency Exchange registration this month. It has also gained license in Africa.

In addition to that, it also announced that it is accelerating its global expansion by entering the European and Latin America markets.

While the company has intentions to make partnerships in regions where there are more Overseas Filipino Workers, like the United States and Asia, the CEO said that it is “more expensive” to get licenses in these places.

Moreover, Zhou believes that crypto adoption in global south countries will be much faster due to how they spend money in which credit cards are “bypassed.”

In strengthening the company’s presence in the country, Zhou admitted that it has been difficult for them to partner with digital banks.

However, he said that this situation has been changed recently as more of these banks are starting to realize the needs of their clients in terms of crypto currency.

“We hope to be much more integrated, and that’s by only taking our roots deeper if all these digital banks have the intention ‘we want to offer bitcoin and profit our users.’ So, they make money, we make money,” he said. 

Aside from Coins.ph’s plans to expand, it is set to integrate the Solana chain by February, which is said to unlock access to dynamic projects and assets being built on it.

“For us, it’s about resources. We’ve always wanted to support it, but we didn’t have resources until now,” the CEO said.

The homegrown centralized exchange company is the first in Asia to gain both Virtual Currency and Electronic Money Issuer license. It is regulated by the Bangko Sentral ng Pilipinas and has gained 18 million users since 2014.

Subscribe to our newsletter

Its easy to be smart about crypto, allow us to send you weekly updates on digital assets, crypto, NFTs and fintech.

WANT TO KNOW MORE?