VC Exchange Firms in PH Reconfirm Cryptocurrency Support in 2018

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Bitpinas. Cryptocurrency Exchange platforms in the Philippines reconfirm their support for cryptocurrencies other than bitcoin in 2018.

Coins.ph Reconfirms Cryptocurrency Support

Asked if Coins.ph would support new cryptocurrencies in the future, the handler of Coins.ph Facebook account responded with confirmation that the company is prioritizing support for virtual currencies other than bitcoin.

“It is our priority to add new cryptocurrencies. We will update our customers if there are new developments about it on our end.” – Coins.ph on Facebook

The company gave the reply in the Coins.ph Facebook Group Page, where discussions are centered around the use of the company’s mobile wallet app.

SCI Ventures on Future Cryptocurrencies

In a blog post on Medium, Mr. Miguel Cuneta, SCI Ventures’ Chief Community Officer and Cofounder reconfirmed his company’s plan to support Ethereum, Litecoin, and Ripple in the very near future.

SCI has also made many new partnerships, as well as will support the major cryptocurrencies of Ethereum, Litecoin, and Ripple, in the very near future. – Mr Miguel Cuneta on Medium.

Prior Statement

Both Coins.ph and SCI Ventures had given remarks about their support for multiple currencies other than bitcoin in the past.

Coins.ph CEO Ron Hose mentioned in December 2017 of bitcoin cash support as one of the things they were looking into to ease rising bitcoin transaction fees.

SCI Ventures announced upcoming support for Ethereum, Bitcoin Cash, and Ripple soon in the company’s BuyBitcoin.ph platform. At that time, it asked users to vote as to which cryptocurrency they want the platform to support first.

Cryptocurrency Exchange Landscape in the Philippines

There is no cryptocurrency exchange in the country that supports “Altcoins to PHP” transactions at the moment. Both Coins.ph and SCI Ventures are officially licensed by the Bangko Sentral ng Pilipinas to operate as Virtual Currency Exchanges, and both of them only support Bitcoin to PHP direct exchange. Multiple currency support in the future by these two companies might open the way for other cryptocurrencies to become popular in the country. “We are confident that we are on the way to achieving our mission – to build the ecosystem of cryptocurrency and blockchain technologies for the Philippines”, Mr. Cuneta said before ending his article.

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Michael Mislos

A business ad graduate from the Pamantasan ng Lungsod ng Maynila, Mike is the website manager of Bitpinas.com. He is responsible for almost every content you see on the site, from topic/news selection to editing of articles. Mike believes correct information about blockchain and cryptocurrency can empower people to make accurate decisions about the industry, which, in turn, should deter bad actors from taking advantage of crypto & blockchain. [Telegram @mikemislos]