Manila – On January 21st, 2019, the doors of the Virtual Currency Philippines Incorporated (VCPI) headquarters will be officially opened in Pasay City, Metro Manila.
VCPI is a roaring start-up that was established in 2018 to bridge the gap of cryptocurrency investments and the world of fiat currency.
It is headed by Jenn Lim who is the president of the company, along with H.E. Pehin Seri Dato’ Seri Farid Ibrahim J.P. as the vice president. Its board is made out of three other members which consist of Its chairman, Pehin Sri Datuk Seri Dato’ Lim Hui Boon, Datuk William Teo Tiew, and Dato Desmond Lim who are the treasurer and director of VCPI, respectively.
The company’s licensed exchange is branded as VHCEx, and is now among the first few cryptocurrency exchange platforms that are licensed in the Philippines.
VHCEx currently offers a variety of cryptocurrency to fiat pairings and also has an over the counter (OTC) platform that opens up more trading opportunities for its users.
On top of that, VHCEx users currently enjoy 0% trading fees on the exchange platform up till May 20th, 2019. At the end of the free-fee trading period, a variety of discounted trading options will be made available on the exchange to ensure users will be able to continue trading with minimal impact.
The exchange has also adopted a new token called HWGC. The HWGC token is pegged to the US dollar at a 1-to-1 ratio. HWGC is a stable token which allows users to easily trade or use as a secure transfer of value without being affected by the volatility of the market.
The president of VCPI, Jenn Lim says that “The main priority was to ensure the platform is licensed by reliable governing authorities available in the Philippines. With everything in place, VHCEx can now focus on the expansion of features and growing the markets for its users.”
Jenn Lim has also appointed Mac Ocampo as VCPI’s Chief Operating Officer to spearhead the growth and success of VHCEx in the Philippines. Mac Ocampo was previously Marketing Head for APAC of Paxful, a peer-to-peer cryptocurrency exchange in Estonia with offices in Manila, Hong Kong, and New York.
“We want to create and offer a platform that will enable underbanked Filipinos achieve their aspirations through digital asset investing. Awareness and education are keys to adoption. The Philippines has the potential as a use case in transforming an underbanked society into a fintech utopia”, Mr. Ocampo said.
Among the future plans of the exchange, is cryptocurrency – security lending. Security lending would provide users the option to lend their digital assets back to the exchange platform for a secured fixed fee. The exchange will then use the borrowed coins or tokens for other margin facilities and other revenue-generating services along the way.
As a whole, VCPI has some interesting growth plans for VHCEx and its users in the upcoming future. VHCEx has a strong base in Philippines, Malaysia, South Korea, Thailand, Japan, and Vietnam, with other expansion plans in the pipeline. The expansion will be catering toward other local languages and focused on bringing about even more opportunities as the number of traders grow on the platform.
For any information and updates, users may follow VHCEx Telegram channel at https://t.me/vhcexchange, or any of VHCEx’s other social media channels for all the latest announcements and new information available on the platform.
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This article originally appeared on BitPinas: BSP-Licensed VCPI Exchange Establishing its Footing in the Philippines