Coins.ph announced that the Bangko Sentral ng Pilipinas (BSP) has granted it an Advanced Electronic Payment and Financial Services (EPFS) license covering the operation of the Coins Pro exchange.
Coins.ph EPFS license
The said license is a key enabler for Coins Pro. Coins Pro users can buy and sell digital currencies at larger volumes and for lower fees. Users can place market, limit, and stop-limit orders across more than PHP 20 spot trading pairs, making it the market’s most complete crypto exchange offering.
“Being granted an advanced EPFS license is a huge milestone for Coins.ph and solidifies our position as the most trusted crypto platform in the Philippines. We have always been committed to working with regulators to ensure appropriate oversight of this fast-growing industry at the intersection of technology and finance. Coins were the first crypto company in Asia to gain multiple licenses from a central bank back in 2017, and we have continuously operated within the Philippines’ legal framework. The advanced EPFS license will facilitate more transparency and safeguards, as it ensures that we can continue to provide secure and reliable services to our users. It will also enable significant upgrades to Coins Pro, our proprietary order book exchange.”
Wei Zhou, Coins.ph, Chief Executive Officer
The BSP also granted Coins.ph a Virtual Asset Service Provider (VASP) license, an Electronic Money Issuer (EMI) license, and a Remittance and FXD/MC license. Coins observe strict compliance with all applicable rules and regulations and are trusted by more than 18 million users to serve as the gateway between Web2 and Web3.
“We truly appreciate the sincere effort that the BSP’s leadership has made to understand the digital assets space in order to craft well-thought-out rules that protect consumers while encouraging innovation. We’re excited to continue leading the development of this industry as a responsible player,” added Mr. Zhou.
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Started his freelancing adventure in 2018 and began doing freelance Audio Engineering work and then started freelance writing a few years later.
Currently he writes for Gadget Pilipinas and formerly wrote for Grit.PH.
He is also a musician, foody, gamer, and PC enthusiast.
