(Makati, Philippines) April 29, 2019 – In an extensive interview with BitPinas, newly BSP-licensed Coinvil (Coinville) discusses its plans in the Philippine market, such as launching PHP trading pairs and introducing more blockchain projects to the country.
As a newly licensed virtual currency exchange by the Bangko Sentral ng Pilipinas (BSP), Coinvil sees blockchain as having the potential to help Filipinos save more on remittance fees, among others. Mr. Jung Hun Park of Coinvil noted the huge number of unbanked in the country who use traditional remittance payment/payout methods and cannot rely on banks for financial access.
“We believe the Philippines has world’s best potential to make real practical use cases (for blockchain and cryptocurrency). For instance, the users can save a lot in remittance by using virtual currency. Coinvil provides more economic, convenient, and safe services using blockchain.”
Additionally, Coinvil said it wants to strive with other licensed exchanges in building a better blockchain ecosystem in the country.
“Coinvil believes collaboration is of paramount importance in building blockchain ecosystem. As a responsible member of licensed exchanges in the Philippines, we want to together build sound and sustainable self-guidelines, ethical guidelines, and market through cooperation.”
Additionally, the exchange said it wants to introduce overseas blockchain projects to the Philippines while at the same time help local blockchain companies get introduced abroad, particularly in South Korea, where Coinvil claims to have established “great partnerships and relationships with many of South Korea’s blockchain projects and exchanges”.
On Launching Time
“Currently BTC, ETH, LTC and VRG are traded on BTC and ETH markets. The Philippine Peso market will open at the end of April.”
On Market Positioning
BitPinas asked Coinvil how is it different from other BSP-licensed companies like Coins.ph, SCI, etc. The newly licensed exchange said it plans to introduce more new coins and will timely introduce excellent blockchain projects to the country.
Coinvil did say that collaboration is important between all the licensed virtual currency exchanges in the Philippines. Mr. Park said:
“The core philosophy of blockchain is not zero-sum game. It is all about creation of new and bigger value through collaboration and sharing. In that regard, Coinvil believes in the importance of collaboration with all the licensed virtual currency exchanges in the philippines.”
You can check out Coinvil at https://coinvil.ph.
This article originally appeared on BitPinas: BSP-License Coinvil (Coinville) Introduces PHP Trading Pairs, Wants to Collaborate With Licensed Virtual Currency Exchanges