Update: Watch our interview with Wei Dao of Coins.ph here where he revealed plans for a Coins Token and a more web3 future for the company.
IN AN EXCLUSIVE INTERVIEW WITH BITPINAS, Wei Zhou confirms that he is the new new Chief Executive Officer of Coins.ph, the leading locally-licensed crypto exchange in the Philippines. Zhou — who was previously the Chief Financial Officer at global crypto exchange Binance — said the new Coins.ph leadership is planning to take the exchange back to its crypto native roots, rebuild the platform from the ground, support more blockchains, and make it the nation’s crypto company.
“Every country has a crypto champion, such as Coinbase in the US, WazirX in India, I want Coins.ph to be the crypto company when the world talk about the Philippines,” Zhou emphasized.
Coins.ph currently has the most number of users (16 million) amongst other locally-licensed virtual asset service providers (VASP) in the country. The license allows it to legally convert cryptocurrencies to fiat and vice versa.
In 2021, Coins.ph, for the first time since 2018, added new tokens for users to purchase. In July, it added USDC, LINK, and KNC. By October, it added AAVE, MKR, and UNI. Finally, last December, it added AXS and SLP, the tokens from hit NFT game Axie Infinity. SAND, MATIC, and USDT were added in February.
Last month, it announced supporting Ronin AXS and SLP deposits. (Previously only ERC-20 AXS and SLP were supported.)
Coins.ph’ return to focus on the cryptocurrency segment of its business has been well-reported by BitPinas, amid the increasing competition for crypto and NFT users in the Philippines.
PayMaya and Facebook Novi both acquired a VASP license from the central bank. PayMaya confirmed to BitPinas its foray into crypto while GCash and GrabPay both reminded users in the Philippines their apps can be used as onramp and offramp to crypto exchanges like Coins.ph and Binance.
This article is published on BitPinas: [Exclusive] Ex-Binance CFO Wei Zho Is Now CEO of Coins.ph, Prepares to Take Back the Exchange to its Crypto Roots