This move, part of its global strategy, aims to double the exchange’s user base in 2024 and mark its presence in five continents.
The expansion is driven by the company’s success in acquiring licenses across various regions. Recently, Coins.ph secured an Australian Transaction Reports and Analysis Centre (AUSTRAC) digital currency exchange registration, following its entry into the Australian market.
CEO Wei Zhou emphasized the company’s commitment to redefining borders by offering regulated and compliant digital asset services globally. This initiative aligns with Coins.ph’s vision to bridge the traditional fiat world with the burgeoning digital asset economy, making digital assets more accessible and user-friendly.
In December 2023, Coins.ph spearheaded the formation of the Digital Asset Exchange Alliance (DAEA) with key digital asset exchanges in Southeast Asia, including Coinhako, Indodax, and Bitkub. This alliance is expected to strengthen the cryptocurrency ecosystem in the region.
March 2023 saw Coins.ph’s affiliate, Coins Digital Markets Limited, receive in-principle approvals for Virtual Asset Service Provider (VASP) licenses from Mauritius’ Financial Services Commission (FSC). The company also operates in Thailand with Coins.co.th.
In addition to geographical expansion, Coins.ph is enhancing its platform offerings. February will see the integration of the Solana blockchain and its native token SOL, opening up a diverse range of projects and assets for its users. This follows the exchange’s recent introduction of BRC-20 token services.
CEO Zhou also hinted at future user benefits, including airdrops, giveaways, and potential integrations of games and non-fungible tokens (NFTs) into the Coins.ph ecosystem.
Since its inception in 2014, Coins.ph has grown significantly, boasting 18 million registered users. With these strategic expansions and integrations, Coins.ph is poised to become a significant player in the global digital asset market, providing innovative solutions and services to a rapidly expanding user base.