The Cryptonomist interviewed Coins.ph CEO Wei Zhou, Ex-Binance CFO, to discuss their global expansion plans as the exchange decided to launch in Australia and Brazil this year.
Coins.ph has been a pioneer in the crypto space by launching PHPC, a 1:1 Philippine peso backed stablecoin that is approved by the Central Bank of the Philippines (BSP). Also, the platform secured licenses to operate in Latin America, Europe, Africa and Australia and currently growing operations in Thailand.
What was your vision when you joined Coins.ph, and how has it evolved since then?
A: My vision is to transform Coins.ph into a global exchange, licensed and regulated across key markets. Coins.ph was the starting point, with the Philippines’ high crypto adoption rates and regulatory clarity we were able to bring innovative products to market like the country’s first fully backed stablecoin pegged to the local currency. With Coins.ph we have fiat capabilities and are connected to local banking rails. Looking ahead, we’ll expand this model to other markets, delivering trusted, regulated crypto services worldwide through our global platform Coins.xyz.
Can you explain the significance of PHPC being a 1:1 Philippine peso-backed stablecoin and how it will benefit users in the Philippines?
A: PHPC plays a critical role in bringing more users onchain, especially as the Philippines is the world’s fourth-largest remittance receiver, with $37.2 billion in inflows last year. A local stablecoin like PHPC addresses inefficiencies in traditional remittance channels, offering a low-cost, fast alternative. As such, PHPC has the potential to onboard a new group of users who may not have considered crypto previously, creating broader adoption and bridging the gap between traditional finance and crypto.
What were the challenges and milestones in obtaining approval from the Central Bank of the Philippines for PHPC?
A: The approval process was collaborative, where we worked closely with the regulators to showcase real metrics and the tangible utility of PHPC. We presented a comprehensive plan for the stablecoin’s launch and scaling to ensure it was not only market-ready but aligned with the needs of users. This approach was essential in ensuring PHPC’s compliance while building a trusted solution that addresses existing pain points and enhances the user experience.
How do you plan to encourage the adoption of PHPC among both consumers and businesses in the Philippines?
A: We’re expanding PHPC across multiple chains. Currently, it’s live on Ronin, tapping into the Philippines’ thriving web3 gaming user base, as well as on Polygon, with upcoming launches on Solana and other networks. A key focus is serving the 10 million-strong Philippine global diaspora. By making PHPC accessible on exchanges and wallets, we’ll provide a seamless, low-cost solution for remittances, trading, rewards and more to empower users and businesses worldwide.
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What specific strategies are you implementing to expand Coins.ph’s operations in Latin America, Europe, Africa, and Australia?
A: With Coins.xyz, we’re rapidly expanding and making it easier for people to access crypto. Our upcoming fiat on and off ramps in Australia and Brazil will enhance accessibility and drive adoption among new to crypto users, while innovative products like derivatives and launchpool will cater to a more sophisticated market. By combining regulatory compliance, innovation, and localized strategies, we’re positioning Coins.xyz to be a platform that people can rely on as they move into the future of finance.
Can you share some insights into your plans for growth in Thailand and how that market differs from the Philippines?
A: Thailand is a competitive market, but we see strong opportunities to grow by enhancing the user experience. We’re focused on offering the products and features that users need, serving both B2B and retail segments.
How is Coins.ph leveraging new technologies to enhance its platform and services for users?
A: We’re building AI into various parts of our business to enhance efficiencies and gain deeper insights into customers. This will allow us to tailor offerings and improve the overall user experience. At the same time, we’re focused on commercializing and growing PHPC, while also introducing new products and experiences that align with what our users want so we continuously provide value to our customers.
In a rapidly evolving crypto landscape, how does Coins.ph differentiate itself from competitors in both the local and international markets?
A: Locally, Coins.ph has always led the way, and until today we’re still the ones setting the pace by rolling out new products that will shape the future of crypto. We’re also rapidly listing vetted tokens, even before other CEXs, giving our users an edge to capture more upside. Globally, we’re combining regulatory compliance with products and experiences that people actually want, earning their trust so they can confidently navigate and participate in the digital asset economy.
What is your perspective on the future of stablecoins in the global cryptocurrency market, and how do you see PHPC fitting into this landscape?
A: We believe that stablecoin adoption is set to soar as onchain efficiencies address key pain points like slow transactions and high fees. Onchain FX enables fast, low-cost cross-border transactions, eliminating the friction of traditional foreign exchange systems and enhancing accessibility. Stablecoins offer price stability, making them ideal for daily transactions like payments, and are increasingly integrated into DeFi, providing users with access to new financial services and opportunities.
Looking ahead, what do you envision for Coins.ph in the next 5 years, particularly in terms of products, services, and market presence?
A: At Coins.ph, we’re on a mission to bring Filipinos onchain, unlocking opportunities for them to earn and grow, whether in the market, web3 games, or DePIN. We’re focused on creating opportunities for wealth creation and enabling users to participate in the next era of mainstream digital asset adoption. On a global scale, our goal is for Coins.xyz to be the largest fully regulated crypto exchange.