PH startup Coins.ph raises $30m in Series C funding

BitKeep
Photo by André François McKenzie on Unsplash

Coins.ph, the Philippines’ leading fiat and crypto wallet services provider and Joffre Capital portfolio company, raised $30 million in Series C financing led by Ribbit Capital, and joined by other strategic investors, according to a PhilippinesToday.ph report.

The new capital will be used to further expand its Web3 ecosystem and presence throughout Southeast Asia.

Coins.ph is Southeast Asia’s leading mainstream super app that boasts over 16 million users with licensed fiat and crypto wallet and exchange services including cryptocurrencies, e-wallet, and payments.

The Company is regulated by the Bangko Sentral ng Pilipinas (BSP) and is the first-ever blockchain-based company in Asia to hold both Virtual Currency and Electronic Money Issuer licenses from a central bank.

“As the Philippines continues to witness the mass adoption of cryptocurrencies, there is a real need for a secure, regulated, and user-friendly product in the market. We are solving that problem by delivering crypto and payment services that allow our customers to access, invest, trade, and spend their crypto assets seamlessly as a part of their daily lifestyles,” said Wei Zhou, CEO of Coins.ph.

Read full story: Coins.ph secures $30m in Ribbit Capital-led Series C funding