The Filipino exchange will also use the funds to expand across Southeast Asia, with its news CEO saying that the market for Web3 in the country is massive.
Wei Zhou, who stepped down from Binance in June 2021 for “personal reasons,” and will now head “the Coinbase of Southeast Asia” even as competition heats up.
Western Union might say they are staying away from digital currencies, but there was a market too sweet not to tap in the Philippines, and Coins.ph was a willing partner to bring them in.
The Indonesian ride-hailing giant announced that it is acquiring a “substantial” number of shares of the Philippine-based fintech company, Coins.ph.
CoinGeek is highlighting the platforms that have opted for a neutral stance ahead of the Bitcoin BCH protocol upgrade, offering their users the chance to put their money where they believe Bitcoin BCH is headed.
Fintech startup Coins has more than tripled its user number to 5 million in under 12 months, after a whirlwind year for the company and its cryptocurrency payments app. And by 2020, CEO Ron Hose said Coins is aiming to reach 20 million users.
The SEC has released a 37-page document outlining its proposed rules for local ICOs. According to the memorandum, any entities planning to conduct initial coin offerings must file applications to the SEC and include detailed documents outlining their operations and how their tokens function.
Coins.ph’s 5 million customers can now cash in and add funds to their mobile wallets from over 2,500 Palawan Pawnshop locations nationwide.