Coins.ph, the country’s leading blockchain-enabled financial services platform, unveiled its 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 Coins.ph CEO Wei Zhou.
“Our team has top-tier talents with global experience in this industry. We're thrilled to bring these capabilities to new markets.” he added.
As Coins.ph continues to innovate and push the boundaries of digital financial services, this expansion marks a significant milestone in the company's global journey. Australia is a key growth market for Coins.ph. According to a report by Independent Reserve, in 2021, 28.8% of Australians were reported to own or have owned cryptocurrency, compared to 18.4% 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.
