Philippines’ Coins.ph, YGG collaborate to ease token transfers

Category: Asia Blockchain Crypto
Posted by
Jenny Ortiz

Yield Guild Games (YGG) has joined forces with cryptocurrency exchange Coins.ph to facilitate swift and cost-effective transfers of YGG tokens to the Ronin network, enhancing accessibility for Filipino gamers.  

The move comes as the YGG token becomes available on the Ronin network, promising to streamline the process for transferring tokens at reduced costs. 

In a press release, Coins.ph CEO Wei Zhou expressed pride in their pioneering collaboration.  

“Fostering web3 adoption has driven us to be a pioneer among exchanges around the world by delivering gamer-centric solutions for our 18 million users. In 2022, we launched Coins Arcade and became the first in the Philippines to list YGG. [Coins.ph] have also been the first to list other top-traded gaming tokens such as RON, AXS and PIXEL.,” Zhou said. 

“By partnering with YGG, we continue to support the gaming community, reflecting our shared mission to improve the experience of gamers when moving in, out and around crypto.” 

Empowering Filipino Gamers

With over 92,700 members in YGG Pilipinas, the Filipino gaming community stands to reap the benefits of this collaboration.  

The partnership aims to empower Filipino gamers by simplifying the process of moving tokens across different blockchains, thereby mitigating the hefty gas fees associated with such transactions. 

Cost-Effective Token Transfers

Previously, transferring tokens across multiple blockchains incurred substantial costs and waiting times.  

However, with YGG now available on Ronin, Filipino YGG holders can bypass double bridging.  

By leveraging Coins.ph’s Ronin integration, users can directly transfer their YGG tokens from Polygon to Ronin, eliminating the need for intermediate steps and minimising gas fees. 

Rewarding Users and Promotional Activities

Coins.ph plans to roll out various incentives for users, including rewards for holding YGG tokens and trading competitions.  

Additionally, users can expect promotions that offer savings on gas fees for Ronin withdrawals.  

Addressing Filipino Gaming Community Concerns

The collaboration between YGG and Coins.ph comes at a time when web3 gaming interest in the Philippines is on the rise.  

Games like Axie Infinity and Pixels, which are on the Ronin network, have witnessed substantial Filipino participation.  

By addressing the needs of the Filipino gaming community, this partnership aims to foster greater inclusivity and accessibility within the burgeoning web3 gaming ecosystem. 

“Our community has been contributing their skills and passion to the Ronin ecosystem since the early days, and this partnership with Coins.ph allows our players to gain better access to the ecosystem and participate in it more meaningfully,” Mench Dizon, YGG Pilipinas Country Head, said.