Coins.ph Enters Global Market With Crypto Remittances Feature

Coins.ph, a digital asset exchange and wallet provider based in the Philippines, has unveiled plans for further expansion into Europe and Latin America, aiming to solidify its presence on five continents.

This strategic move is coupled with an ambitious objective: to double its user base by the end of 2024.

Global Expansion Strategy Driven by Licensing Success

Coins.ph's global expansion is underpinned by its rapid acquisition of licenses across various jurisdictions worldwide. Earlier, the company announced the attainment of a license in Australia following the acquisition of an Australian Transaction Reports and Analysis Centre (AUSTRAC) digital currency exchange registration.

Wei Zhou, CEO of Coins.ph emphasized the significance of this expansion, stating, "At Coins.ph, we're not merely crossing borders; we're redefining them. By securing licenses across various continents, we uphold our pioneering spirit in delivering regulated and compliant digital asset services, a legacy we've proudly established in the Philippines."

According to Rappler, in December 2023, Coins.ph spearheaded the formation of the Digital Asset Exchange Alliance (DAEA), partnering with other digital asset exchanges in Southeast Asia, including Coinhako in Singapore, Indodax in Indonesia, and Bitkub in Thailand. This collaborative effort aims to enhance the digital asset ecosystem across the region.

Integration of Solana Blockchain and Expansion of Services

Coins.ph is gearing up to integrate the Solana blockchain's native token SOL and its ecosystem into its platform by February. Zhou highlighted the potential benefits of this integration, including airdrops, giveaways, and the incorporation of innovative games and non-fungible tokens (NFTs) into the platform, providing enhanced value to users.

According to Coin Geek, this initiative follows Coins.ph's recent introduction of BRC-20 token services to the local market in December. BRC-20 is a technical standard for minting and managing fungible tokens, facilitating the inclusion of tokens like $ORDI, $VMPX, and $PEPE on the BTC blockchain.

Established in 2014, Coins.ph boasts a user base of 18 million registered users, signaling its significant presence in the digital asset landscape. Coins.ph remains committed to delivering innovative solutions and fostering the adoption of digital assets worldwide as it embarks on this journey of global expansion and service enhancement.

Photo: Shubham Dhage/Unsplash

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