Blockchain-enabled financial services platform
Coins.ph yesterday announced plans to expand into the Australian market in 2024.
The announcement comes after Coins.ph’s Australian arm successfully acquired an AUSTRAC (Australian Transaction Reports and Analysis Centre) Digital Currency Exchange registration which is required for providing cryptocurrency exchange services in Australia.
This strategic move underscores the homegrown company’s commitment to broadening its reach internationally and bolstering the availability of regulated and compliant digital asset services.
“Coins.ph is primed for global expansion. Our journey began nearly a decade ago in the Philippines and since then, we’ve onboarded 18 million customers and expanded our services in both the digital asset exchange business and in e-wallet services,” said Wei Zhou, Coins.ph chief executive officer.
Coins.ph said Australia is a key growth market, citing a report by Independent Reserve which said that in 2021, 28.8 percent of Australians were reported to own or have owned cryptocurrency, compared to 18.4 percent in the year prior. The country is also home to many overseas Filipinos who can now look forward to a more connected financial experience that bridges their lives down under with their roots in the Philippines.
