October 11, 2019 – ABA Global Philippines Inc. under the trade name of Coexstar obtained the official license of the cryptocurrency exchange from the Bangko Sentral ng Pilipinas (BSP) on March 21 this year.
A company official said “After obtaining the license, we will faithfully implement the requirements of the AMLC, and commission Nullforge Security Inc., our third-party agency to pass the security audit specifically requested by the Bangko Sentral ng Pilipinas (BSP). It took a lot of time, so our opening schedule was significantly slower than the original plan.”
“Although the schedule is a little late, we made sure that the verification process has been given the utmost importance to ensure our future customers’ asset to be more secured and recognized as a system that enables safe and transparent transactions, while proactively blocking hacker attacks and other risks. I feel proud and responsible and I will continue to work closely with the Bangko Sentral ng Pilipinas and other relevant institutions to establish an exemplary position as a leader in the Philippines cryptocurrency market.”
COEXSTAR, which officially launched on Monday, October 7, 2019 started trading 10 of the world’s famous cryptocurrencies, including Bitcoin and Ethereum. Company’s public launch will be by the end of October 2019.
According to one company official “We will pre-sale the ‘ABAG’ coin and ‘SCOR’ coin of COEXSTAR for a month and after the exchange is open, and we will give various benefits according to the amount of stocks. As we accept other coins for exchange, traders might want to keep an eye out for ABAG and SCOR coin price increase.”
The official said the company will operate a ‘PESO’ market on the ‘COEXSTAR’ exchange to provide convenient trading services for the Philippines.
Filipino traders will need to open a Philippine bank account, while being able to use the trading service conveniently by simply signing up at coexstar.ph.
ABA Global Philippines Inc. which is seeking various financial services using cryptocurrency is boldly developing new businesses in related fields using the official ‘COEXSTAR’ exchange. It is fully prepared to become a leading “Tech” company.
In particular, while paying attention to our blockchain business, UNIONBANK and ABA Global Philippines Inc. will actively pursue fintech businesses which will benefit both parties positively.
Furthermore, the company is hiring a large number of excellent local workers in Manila and is ambitious to grow into one of the world’s best crypto-based fintech company, starting with its cryptocurrency exchange platform.
Currently, there are 10 cryptocurrency exchanges licensed by the Bangko Sentral ng Pilipinas:
- ABA Global Philippines
- BLOOM SOLUTIONS
- CONVILLE PHILS
We look forward into having ABA Global Philippines Inc. to be the Philippines’ first exchange platform to offer advanced cryptocurrency trading services for 24 hours.
This article is published on BitPinas: COEXSTAR.PH Officially Launches Cryptocurrency Exchange Platform, Now Open For Trading
The article is provided by COEXSTAR to BitPinas.
- BSP-Licensed COEX STAR Crypto Exchange Launches Officially With Multiple PHP-Crypto Trading Pairs
- (Updated August 2019) List of Licensed Virtual Currency Exchanges in the Philippines
- (Updated October 2019) List of Cryptocurrency Exchanges in the Philippines
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