Coins.ph CEO Wants to List Local Crypto Projects

• Wei Zhou, CEO of Coins.ph, has expressed his enthusiasm for local crypto projects and announced his intention to list them on the Coins.ph platform to nurture the local ecosystem.
• Zhou believes in the growth potential of local crypto projects, viewing them as paramount for both addressing the unique Filipino community’s needs and advancing Coins.ph’s goal of global expansion.
• Despite a bear market, Zhou remains optimistic about the crypto landscape, referencing the potential of Bitcoin ETFs and BlackRock’s interest, while also noting the robust listing process Coins.ph employs to ensure regulatory compliance.

In a meetup of the Blockchain Council of the Philippines, Wei Zhou, CEO of Coins.ph, expressed his enthusiasm for local crypto projects and his intent to list them on the platform.

(Note: A listing form is available on the Coins website for projects who want to get listed on the licensed exchange.)

Coins want to list local projects

In a message addressed to attendees, Zhou emphasized the importance of building a local ecosystem. 

“What I really want in the next six months is I want to have local champions on Coins.ph,” he remarked.

“I want to bring local champions, get their tokens listed, get their games listed [] and we build the ecosystem together. That’s what I want to do.”

Zhou believes that while listing global cryptocurrencies like Bitcoin and Ether are essential, the real growth, he said that innovation lies in local projects tailored  to the unique needs of the Filipino community.

He further elaborated, “Bitcoin, Ethereum, those are global things. For me, that’s like Google, that’s like Amazon. But what’s really going to take us to the top is to have local champions. I want local projects listed here,” he said. With his eventual goal of making Coins.ph global. He sees the local projects benefiting from global users who will use the local tokens not just for trading but in their own use cases.

As of August 6, 2023, only one Filipino-led project – YGG – is available on Coins.ph.

A resilient market amidst challenges

Despite the bear market, Zhou said he remains optimistic. “Building hasn’t stopped, innovation hasn’t stopped,” he remarked, suggesting that the current market situation is but a temporary phase. 

Zhou cited the developments on Bitcoin ETFs, particularly from Blackrock, the largest asset fund manager in the world. Analysts suggest Bitcoin could reach a new all-time high price if BlackRock’s ETF application is approved.

A Bitcoin ETF (Exchange-Traded Fund) is a financial instrument that tracks the value of Bitcoin and trades on traditional stock exchanges, rather than cryptocurrency exchanges. This allows investors to purchase shares of the ETF through brokerage accounts they already have, without needing to set up a cryptocurrency wallet or go through a cryptocurrency exchange.

What are the cryptocurrencies listed at Coins.ph?

As of August 6, 2023, the following crypto are listed on the licensed exchange’s Coins Pro platform: 

Coins.ph has been actively listing tokens on the platform. In a previous interview, the CEO said that while they list very fast, each and every token still needs regulatory approval.

“You do NEED to get regulatory sign off on the listing. We do have a token listing process, an internal vetting, both from our legal team, from our research team, from our compliance team, and we do have to sort of check the boxes, and then that listing process does get reviewed by our regulator.”

A listing form is available on the Coins website.

This article is published on BitPinas: Coins.ph CEO Wants to List Local Crypto Projects

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