Coins.ph, a digital asset exchange in the Philippines, is advancing its financial literacy and Web3 inclusivity campaign after a year of notable progress in its decade-long history.
The company expanded globally with the launch of Coins.xyz, introducing 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. Additionally, Coins.ph has increased its digital currency offerings, supporting over 100 tokens.
Use for cross-border payments
Jen Bilango, Country Manager of Coins.ph, highlighted 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 cryptocurrency is for cross-border payments,” Bilango said. “We are making it easy for people abroad to send money back to the Philippines in a cost-effective and fast way using stablecoins. This is revolutionary because if you can save 20-30% on transfer fees, that money goes straight into your family’s pockets.”
Bilango emphasized that many Filipinos, due to the country’s large foreign labor force, rely heavily on remittances. Digital currency solutions streamline these transactions, offering a cost-effective and faster alternative to traditional banking methods.
“Using stablecoins for remittances not only reduces costs, but also speeds up the process, which is vital for families who rely on these funds,” she added.
Combining financial literacy and gaming
The development of Web3 technologies in the Philippines has also contributed significantly to improving financial literacy, especially through games.
“In the last cycle, we saw how different communities came together to bridge the gap between financial literacy and digital financial inclusion. This has taken our youth’s lives to the next level by teaching them how to interact with digital wallets and understand financial transactions,” Bilango said.
The popular blockchain game Axie Infinity, which gained momentum during the pandemic, has provided an additional source of income for many Filipinos, including tricycle drivers and other informal workers. Pressman herself has shared how she has supported nearly a thousand Axie Infinity scholarship recipients by offering them a way to earn money during difficult times.
“It was one of the ways I could give back to the people who supported me before,” she said, expressing gratitude for the opportunity to make a difference in people’s lives.
Making Investment Easier for Filipinos
Katrina Gonzalez, Global Marketing Director at Coins.ph, spoke about the barriers to traditional investment opportunities in the Philippines and how digital currency can become a more accessible alternative.
“It’s difficult to invest in the Philippines if you’re an ordinary person. Setting up a stock exchange trading account is a long and institutional process. Cryptocurrency allows you 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 to create wealth, regardless of their background or financial status,” she said.
Learning and Engagement through Partnerships
In an effort to encourage more Filipinos, especially the youth, to learn about Web3, blockchain solutions, and build trust in digital finance, Coins.ph has partnered with actress Yassi Pressman.
“We needed someone who understood the industry, someone who had gone through the same learning curve as the rest of us. Yassi is not just the face of Coins; she is a voice who understands why people trade and the pain points of the Philippine economy,” Bilango said.
Gonzalez echoed that sentiment, stressing the importance of making digital currency less scary and more understandable.
“Our campaign with Yassi was collaborative and full of personality. We wanted to bring humor and lightness because crypto can be scary. Once you try it and learn from it, it gets easier. Crypto is something that anyone can do, no matter where you come from,” she said.
The Future of Digital Assets in the Philippines
According to Coins.ph, the company plans to further expand its offerings by offering more tokens to Filipinos and increasing accessibility to digital finance.
Bilango shares the company’s optimistic outlook, stating, “We are already the largest regulated exchange in the Philippines and we are looking to list more tokens. Many projects want to enter the Philippine market and we want to provide that access to our users.”
A Call for Education and Empowerment
At a press conference this month, Pressman shared her experience with the digital currency, saying, “I am honored to be part of the Coins.ph family. Cryptocurrency has been part of my financial journey and I have seen its potential to improve lives by providing access to financial services and wealth creation opportunities.”
She also summed up the Coins.ph team’s thoughts by emphasizing the importance of education and responsible investing.
“It’s 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’s room to grow,” the actress concluded.
Watch: Regulation Leads to Good Growth for Web3 Operators
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate guide to using blockchain, to learn more about blockchain technology.
