Coins.ph finalises Europe, Latin America licences; announces rebranding plans
Coins.ph, a cryptocurrency exchange based in the Philippines, continues its global expansion efforts with plans of rebranding ahead. In an exclusive interview at AIBC Asia, Jen Bilango, the Country Manager of Coins.ph, talks about the company’s recent achievements and plans.
Bilango shared that Coins.ph has successfully secured licences in both Europe and Latin America, marking a milestone in the company’s expansion strategy. “We’ve announced earlier this year that we’ll not just be based here in the Philippines, although the Philippines is our biggest market,” Bilango stated. “We’ve gained ground in Europe and Latin America. As for the updates, we have finalised our licences in those countries.”
According to Bilango, Coins.ph is already seeing some activity in Latin America, particularly with over-the-counter (OTC) trades involving institutional clients. Meanwhile, in Europe, the company is finalising the requirements for a full launch. “We have secured a licence in Europe,” Bilango confirmed. “Maybe in Q3, you’ll see us have more presence in that area of the world.”
Launch of PHPC stablecoin
In addition to its expansion efforts, Coins.ph has introduced a new stablecoin pegged to the Philippine peso, known as PHPC. This development positions Coins.ph as the first company to receive approval from the Bangko Sentral ng Pilipinas (BSP), the country’s central bank to issue a peso-pegged stablecoin for retail use.
Bilango provided an update on the stablecoin’s progress: “We were the first company to receive approval from our central bank to issue a Philippine peso stablecoin for retail use. We have minted the contract address on one of the chains and are looking at one or two more.”
“The response of the community has been great. We were surprised by how excited they were about the PHPC stablecoin,” Bilango said.
The PHPC stablecoin is expected to be a game-changer for digital finance in the Philippines, particularly for cross-border payments and international remittances. “It will be available in-app, on our exchange, and maybe in some other markets as well,” Bilango noted.
Blockchain adoption in the Philippines
Bilango also discussed the broader adoption of blockchain technology in the Philippines. She emphasised that the country is leading in terms of the number of users and the percentage of adoption. “The Philippines has always been leading in terms of the number of users and in terms of the percentage of adoption,” Bilango said. “Because of our demographics, we think penetration here will be good. Filipinos are kind of internet native due to our very young population.”
Bilango highlighted the role of gaming in onboarding more users into the cryptocurrency space. “We’ve seen it unfold in the last cycle where the Philippines has been the centre of GameFi. Gaming will onboard more users into crypto,” she explained. Additionally, institutional adoption is also on the rise, with many bank partners looking into stablecoins as a starting point for entering the crypto market.
Plans of rebranding
Bilango also revealed that the company is planning a rebrand to better appeal to international markets. “We’ll do a rebrand. We’re not just going to be Coins.ph because it doesn’t travel well in other countries,” she announced.
In terms of product offerings, Coins.ph is set to launch more products driven by regulatory approvals. The company is also eyeing regional expansions, with plans to launch in Australia by Q3. “Europe will be the start, Latin America, our Australian exchange will also be up,” Bilango confirmed. The company is also exploring the introduction of spot, futures, and options trading in other countries.
“It’s definitely an exciting year. We can feel the tide changing and the volumes coming up. We’re here to give our users what they want and provide them with a great product user experience.”
