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Wednesday, November 23, 2022

Coins.ph CEO Wei Zhou Says Philippines Poised to Lead Global Fintech Innovation at the Inclusion and Digital Transformation (INDX) Summit 2.0


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Zhou joined leaders from industry and government to discuss the Philippines’ head start in financial sector digital transformation thanks to favorable demographics and progressive regulation

Wei Zhou, CEO of Coins.ph, ("Coins" or the "Company"), the Philippines' leading digital wallet provider and crypto exchange platform, took the stage at the second edition of the Fintech Alliance’s Inclusion and Digital Transformation (INDX) Summit 2.0 to discuss the potential for the Philippines to globally lead the digital transformation of the financial sector.

“The Philippines has proven it can be a global leader in the adoption of financial technology. With over 100 million people, the majority of whom are below the age of 30, we have the numbers to become the epicenter of global innovation in fintech. We are already the leaders in Web3 and with our regulator's progressive mindset in finding the balance between protecting investors and promoting innovation, we are poised to become a force to reckon with,” Zhou said in the leadup to the event.




Zhou appeared on a panel on Day 2 of the Summit to discuss the challenges posed by the adoption of new technologies in the financial sector, and the progressive steps taken by industry and regulators in the Philippines to promote innovation, upskill the workforce, and develop relevant competencies. Zhou spoke alongside other leaders from industry and government, including Emilio B. Aquino, the Chairman of the Securities and Exchange Commission, who delivered a keynote address introducing the panel.

“As the world moves into the Web3 era dominated by digital currencies and blockchain technology, the Philippines is ahead of the curve in terms of both user adoption and homegrown technology development. With hundreds of millions of people now owning digital assets and relying on crypto’s instant transactions and cheap fees to make payments and send money seamlessly around the world, regulators in the Philippines have pursued a balanced approach that encourages crypto platforms to operate within a well-thought-out regulatory framework that protects citizens without stifling innovation. That is an incredibly encouraging sign for the country’s ability to remain at the forefront as innovative new technologies continue to transform economies across Southeast Asia and around the world,” Zhou added.

Coins is fully regulated by the Bangko Sentral ng Pilipinas (BSP), and operates under both Virtual Currency and Electronic Money Issuer licenses. Coins continues to serve as the leading bridge to the world of Web3, helping millions of people in Southeast Asia to easily buy, sell and store a wide array of digital assets and fiat currencies.



About Coins.ph

Launched in 2014, Coins.ph is the most established crypto brand in the Philippines and has more than 16 million users. Through the easy-to-use mobile app, users can buy and sell a variety of cryptocurrencies and access a wide range of financial services. Coins.ph is fully regulated by the Bangko Sentral ng Pilipinas and is the first crypto-based company in Asia to hold both Virtual Currency and Electronic Money Issuer licenses from the central bank. For further information, contact marketing@coins.ph.



For more information about Coins.ph, visit https://coins.ph and follow us on Facebook, Twitter, and Instagram.

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