Coins.ph CEO Wei Zhou reveals that the company is in the process of securing crypto licenses in more jurisdictions as it moves for a global expansion soon. Wei announced this during the grand opening of the new Coins.ph office last September 21st.
“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.”Wei Zhou, CEO, Coins.ph
In his opening statement, the CEO said the company is looking to get licenses in Australia, Latin America, and Europe.
Coins.ph has an existing license in Thailand and is operating in the Southeast Asian country under Coins.co.th. Previously, the company shared it secured licenses in Mauritius.
In a separate interview, Coins.ph Country Manager Jen Bilango shared about the status of the licenses.
“We’re going through the regular checks with getting the licenses, and we’re very optimistic in securing them.”Jen Bilango, Country Manager, Coins.ph
On Coins.ph’s decision to secure international licenses, Jen points to the global nature of blockchain and the strength of the company’s core product.
“We’re doing this because the ethos of blockchain is it’s global, right? From our perspective, what we have is replicable to other countries. We view the Philippines like our sandbox, wherein we develop the products, and then we go to other markets and decide what product we can offer to other markets.”Jen Bilango, Country Manager, Coins.ph
Jen points to the multiple products of the company all under one Coins.ph app. (The event itself is where the company shared with its stakeholders and the media the milestones it had achieved so far since 2022.) This includes Coins Pro (its order book exchange) and its decentralized web3 wallet inside the Coins app.
At the event, Wei highlighted the company’s web3 wallet, the decentralized wallet inside the Coins.ph where users can play games and swap tokens on several chains. The CEO said this solves the problem of Filipinos having to create multiple wallets or jump to different apps just to play a game or cash out their funds.
Still, just like any DeFi wallet, Wei shared that users must secure their own seed phrases.
“Users are 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, Coins.ph
Coins.ph, most recently, is the partner of the Department of Information and Communications Technology (DICT) for the recently held hackathon and web3 side event at Philippine Blockchain Week.
This article is published on BitPinas.com: Coins.ph Reveals Securing Licenses in AU, EU, and LatAm
- Before investing in any cryptocurrency, it is essential that you carry out your own due diligence and seek appropriate professional advice about your specific position before making any financial decisions.
- BitPinas provides content for informational purposes only and does not constitute investment advice. Your actions are solely your own responsibility. This website is not responsible for any losses you may incur, nor will it claim attribution for your gains.