The Cryptonomist interviewed Coins.ph CEO Wei Zhou, former CFO of Binance, to discuss his 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). Additionally, the platform obtained licenses to operate in Latin America, Europe, Africa and Australia and is currently increasing its 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 exchangeauthorized and regulated in key markets. Coins.ph was the starting point, with the Philippines’ high cryptocurrency adoption rates and regulatory clarity, we were able to bring innovative products to the market, such as 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 avenues. Going forward, we will expand this model to other markets, providing trusted and regulated crypto services around the world through our global platform Coins.xyz.
Can you explain the importance 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 attracting more users to the chain, especially since the Philippines is the fourth largest recipient of remittances in the world, with $37.2 billion in inflows last year. A local stablecoin like PHPC addresses the inefficiencies in traditional remittance channels and offers a fast, low-cost alternative. As such, PHPC has the potential to bring in a new group of users who may not have previously considered cryptocurrencies, creating broader adoption and bridging the gap between traditional finance and cryptocurrencies.
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 regulators to show real metrics and tangible utility of PHPC. We presented a comprehensive plan for the launch and scaling of the stablecoin to ensure that it was not only market ready but aligned with user needs. This approach was essential to ensure PHPC compliance while creating a reliable solution that addresses existing pain points and improves user experience.
How do you plan to encourage PHPC adoption among consumers and businesses in the Philippines?
A: We are expanding PHPC to multiple chains. It is currently available on Ronin, tapping into the Philippines’ thriving web3 gaming user base, as well as on Polygon, with upcoming releases on Solana and other networks. A key objective is to serve the 10 million Filipinos in the global diaspora. By making PHPC accessible on exchanges and wallets, we will provide a seamless, low-cost solution for remittances, transactions, rewards, and more to empower users and businesses around the world.
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What specific strategies are you implementing to expand Coins.ph operations in Latin America, Europe, Africa, and Australia?
A: With Coins.xyz, we are expanding rapidly and making it easier for people to access cryptocurrencies. Our upcoming fiat on- and off-ramps in Australia and Brazil will improve accessibility and drive adoption among new cryptocurrency users, while innovative products such as derivatives and launchpool will serve a more sophisticated market. By combining regulatory compliance, innovation, and localized strategies, we are positioning Coins.xyz as a platform people can trust as they move into the future of finance.
Can you share some insights about your growth plans in Thailand and how that market is different from the Philippines?
A: Thailand is a competitive market, but we see great opportunities to grow by improving the user experience. We are focused on offering the products and functions that users need, serving both the B2B and retail segments.
How does Coins.ph leverage new technologies to improve its platform and services for users?
A: We are incorporating AI into various parts of our business to improve efficiency and gain deeper customer insights. This will allow us to personalize offers and improve the overall user experience. At the same time, we are focused on marketing and growing PHPC, while introducing new products and experiences that align with what our users want to continually deliver value to our customers.
In a rapidly evolving crypto landscape, how does Coins.ph differentiate itself from its competitors in both the local and international markets?
A: Locally, Coins.ph has always led the way and to this day we are still the ones setting the pace by launching new products that will shape the future of cryptocurrencies. We are also rapidly listing vetted tokens, even earlier than other CEXs, giving our users a head start to take advantage of more benefits. Globally, we combine regulatory compliance with products and experiences people really 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 think PHPC fits into this landscape?
A: We believe stablecoin adoption will skyrocket as on-chain efficiencies address key pain points like slow transactions and high fees. Onchain FX enables fast, low-cost cross-border transactions, removing the friction of traditional currency exchange systems and improving accessibility. Stablecoins offer price stability, making them ideal for everyday transactions such as payments, and are increasingly integrated into DeFi, giving users access to new services and financial 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 are on a mission to bring Filipinos into the chain, unlocking opportunities for them to earn and grow, whether in the marketplace, web3 games, or DePIN. We are focused on creating opportunities for wealth creation and enabling users to participate in the next era of widespread digital asset adoption. On a global scale, our goal is for Coins.xyz to be the largest fully regulated crypto exchange.
