Coins.ph Bags Advanced Electronic Payment and Financial Services License

Coins.ph Bags Advanced Electronic Payment and Financial Services License

by December 13, 2022

The Bangko Sentral ng Pilipinas (BSP) has granted Coins.ph, a Philippines’ digital wallet provider and crypto exchange platform, an advanced Electronic Payment and Financial Services (EPFS) license covering the operation of the Coins Pro exchange.

According to a statement by Coins, it is the first Virtual Asset Service Provider (VASP) to be granted a Type A EPFS license, which is traditionally reserved for banks.

Coins Pro is a professional-grade order book exchange that is now available to all of its users.

They can buy and sell digital currencies at larger volumes and for lower fees. Additionally, users can also place market, limit, and stop-limit orders across more than PHP 20 spot trading pairs.

Launched in 2014, Coins.ph has more than 18 million users and holds a Virtual Asset Service Provider (VASP) license, an Electronic Money Issuer (EMI) license, and a Remittance and FXD/MC license.

Wei Zhou

Wei Zhou

“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.

 

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.”

said Wei Zhou, Chief Executive Officer at Coins.ph.