The Philippines' leading fiat and crypto wallet services provider announced today that global technology buyout firm Joffre Capital has just acquired Coins.ph. As part of the new management and new group of shareholders, Wei Zhou, former CFO of Binance will be at the helm of Coins.ph and will strategically focus on blockchain and digital asset initiatives.
"We are excited to be working with Joffre Capital to commit Coins.ph to the mission of bringing financial empowerment through blockchain technology and innovation. We have seen digital assets and Web3 applications impact everyday life in the Philippines and are honored to have the opportunity to build fully regulated products and services that will enable financial freedom for our users," said Wei Zhou, CEO of Coins.ph.
Existing products and services of Coins.ph will remain the app but expect it to undergo changes that will offer more advance and seamless user experience. Coins.ph' new initiatives will focus on Web3, with the new crypto products and services set for launch within the year.
"As a technology-focused buyout investor, Joffre Capital sees tremendous opportunity for value creation in Coins.ph to be innovative and crypto native to serve the digital-first users in the Philippines and other regions in the future. We are excited to be driving this mission with our partners led by Wei Zhou as the new CEO. The new management team's technology and operational expertise is world class," said Ding'an Fei, Managing Partner at Joffre Capital.
In addition to new products and services, Coins.ph plans to be much more active in the local community through online and offline events sponsorships, we well as regular user engagement and financial education initiatives.
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