2 weeks ago
3
Coins.ph, a digital asset exchange in the Philippines, is pushing its campaign for Web3 and financial literacy and inclusion following a year of notable progress in its decade-long history.
The company expanded globally with the launch of Coins.xyz and introduced new products and platform enhancements. These updates include a redesigned user interface (UI) for the app, the introduction of the pioneering Philippine Peso stablecoin, PHPC and the addition of Rewards Hub, an in-app loyalty and rewards program. Furthermore, Coins.ph has increased its digital currency offerings, supporting over 100 tokens.
The use for cross-border payments
Jen Bilango, the Country Manager of Coins.ph, emphasized the transformative potential of digital currency and Web3 technology for Filipinos, especially in terms of cross-border payments.
“One of the best use cases for crypto is using cross-border payments,” Bilango said. “We’re making it easy for people abroad to send money back to the Philippines in a cost-efficient and quick manner using stablecoins. This is revolutionary because if you can save 20 to 30% on remittance fees, that’s money directly into the pockets of your family.”
Bilango highlighted that many Filipinos, due to the country’s large overseas workforce, depend heavily on remittances. Digital currency solutions streamline these transactions, offering a cost-effective and quicker alternative to traditional banking methods.
“The use of stablecoins for remittances not only reduces costs but also speeds up the process, which is vital for families relying on these funds,” she added.
Bridging financial literacy and gaming
The rise of Web3 technologies in the Philippines has also contributed significantly to financial literacy, particularly through gaming.
“In the last cycle, we saw different communities rallying together to bridge the gap between financial literacy and digital financial inclusion. This has uplifted the lives of our youth by teaching them how to interact with digital wallets and understand financial transactions,” Bilango pointed out.
The popular blockchain-based game Axie Infinity, which gained traction during the pandemic, provided an additional income stream for many Filipinos, including tricycle drivers and other informal workers. Pressman herself shared how she supported almost a thousand Axie Infinity scholars, offering them a means to earn during challenging times.
“It was one of the ways to give back to the people who supported me before,” she said, expressing gratitude for the opportunity to make a difference in people’s lives.
Simplifying investments for Filipinos
Katrina Gonzalez, Global Marketing Director of Coins.ph, spoke about the barriers to traditional investment opportunities in the Philippines and how digital currency can offer a more accessible alternative.
“It’s hard to invest in the Philippines if you’re just a regular person. Setting up a trading account for the stock exchange is a long and institutional process. Crypto provides accessibility to invest in assets from your phone, even in small denominations,” Gonzalez explained.
“This ease of access means that any Filipino can participate in investments and have a chance at wealth creation, regardless of their background or financial status,” she further highlighted.
Educating and engaging through partnerships
In a bid to engage more Filipinos, especially the youth, into learning more about Web3, blockchain solutions and building trust in digital finance, Coins.ph struck a partnership with actress Yassi Pressman.
“We wanted someone who understands the industry, someone who went through the same learning curve as we all did. Yassi is not just a face for Coins; she’s a sounding board who understands why people trade and the pain points of the Filipino economy,” Bilango emphasized.
Gonzalez echoed this sentiment, highlighting the importance of making the digital currency less intimidating and more relatable.
“Our ad campaign with Yassi was collaborative and full of personality. We aimed to bring humor and lightness because crypto can be intimidating. Once you try it and learn through experience, it gets easier. Crypto is something everyone can do, no matter your background,” she said.
The future of digital assets in the Philippines
According to Coins.ph, the company plans to continue expanding its offerings, making more tokens available to Filipinos and enhancing the accessibility of digital finance.
Bilango shared the company’s optimistic outlook, stating, “We’re already the largest regulated exchange in the Philippines, and we aim to list more tokens. Many projects want to enter the Filipino market, and we want to provide that access to our users.”
A call to educate and empower
In a press event this month, Pressman shared her journey with digital currency, stating, “I am honored to be part of the Coins.ph family. Crypto has been a part of my financial journey and I have seen its potential to improve lives by providing access to financial services and opportunities for wealth creation.”
She also summed up the sentiment shared by the Coins.ph team, highlighting the importance of education and responsible investing.
“It’s really about educating yourself and doing it at your own risk. But if you know what you’re doing and invest in the right things, there is an opportunity for growth,” the actress concluded.
Watch: Regulation leads to good uptick for Web3 operators
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.
English (US) · 