The platform currently has 18 million customers, but the company is aiming for more by the end of the year. In the statement of the Country Manager of coins.ph, Jen Bilango around 95 percent of the 18 million users it has now are Philippine-based, she also added that by the second half of this year, the numbers are expected to grow as they expand overseas.
“Hopefully we grow that double, triple from what we are right now. Not just coming from the Philippines. We are expanding in other countries. Coins is now available in international exchange in Mauritius. We are also available in Latin America, Europe, and Australia,” she said
However, even if the platform expands abroad, Coins.ph is also eyeing to widen its reach in the Philippines. It introduced Yassi Pressman as their celebrity ambassador to hopefully capture a bigger market in the country.
Pressman shared her crypto journey for 7 years,her challenges that she faced and how she conquered all the ups and downs.
“I just put my money there 2017, 2018 and I kind of let it go. It dropped during the bear market which is kinda sad, very very sad. Pero kapit lang. Stay strong lang tayo. So now we’re back on our feet,” Pressman said.
Jen Bilango agreed that there are risks to investing in crypto, which is why she said that it is better to invest in companies that are regulated by Bangko Sentral ng Pilipinas like Coins.ph.
“In stock market, we also have risks associated to it whenever you buy stocks. Any financial transaction in nature or asset in nature, will have its own risks. What you want to remove as user is basically platform risk,” said Balingo.
Balingo also added that investing in crypto will also help in nation building and boost the overall economy as it will expand the options for Filipinos, and it will also cut the cost for sending remittances to the country. Coins.ph has recently launched the pioneering Philippine Peso stablecoin (PHPC) that can lessen cost and time from sending money to the country.