Coins.ph is the Philippines' most established cryptocurrency wallet and exchange, operating since 2014. One of Southeast Asia's pioneering crypto platforms, Coins.ph has evolved from a Bitcoin remittance service into a full-featured financial super-app used by millions of Filipinos for crypto trading, bill payments, mobile load, and money transfers. It holds a Virtual Asset Service Provider (VASP) license from the Bangko Sentral ng Pilipinas (BSP).
History and Background
Coins.ph was founded in 2014 by Ron Hose and Runar Petursson, initially focused on enabling remittances using Bitcoin as a settlement layer. The Philippines is one of the world's largest recipients of overseas worker remittances, and the founders saw an opportunity to make these transfers faster and cheaper using crypto rails. Early backing came from Naspers Ventures and other prominent investors.
In 2019, Coins.ph was acquired by Go-Jek (now GoTo Group), the Indonesian super-app giant, which provided substantial capital and regional infrastructure. The acquisition accelerated product development and strengthened Coins.ph's regulatory standing. Coins.ph later rebranded under new ownership through a management buyout, and today operates as an independent entity focused on the Philippine market.
Key Company Facts
| Item | Details |
|---|---|
| Founded | 2014 |
| Headquarters | Makati, Metro Manila, Philippines |
| Regulation | BSP VASP licensed |
| Listed Coins | 50+ cryptocurrencies |
| Trading Fee | ~0.5%–1% spread (simple) / 0.1%–0.2% (pro) |
| Users | Millions of registered users in the Philippines |
| Key Services | Crypto trading, bills payment, mobile load, remittance |
Key Features
Financial Super-App for the Unbanked
A significant portion of the Philippine population is unbanked or underbanked, and Coins.ph was among the first platforms to offer these users access to digital financial services via a mobile phone. Users can pay utility bills, buy mobile load, send and receive money, and trade crypto — all from a single app without needing a traditional bank account. This financial inclusion mission has driven Coins.ph's massive user adoption.
BSP VASP License — Pioneer Regulator Relationship
The Bangko Sentral ng Pilipinas (BSP) was one of the first central banks in Asia to establish a formal regulatory framework for virtual asset service providers, and Coins.ph was among the earliest to receive a VASP license. This pioneering regulatory relationship has given Coins.ph credibility and access that later entrants have had to work harder to achieve.
Remittance and Bills Payment Integration
Beyond crypto trading, Coins.ph supports payment of over 500 billers across the Philippines including Meralco (electricity), PLDT (telecoms), and government services. This utility makes Coins.ph genuinely useful in daily life beyond just speculation, driving regular engagement and user retention in ways that pure crypto exchanges cannot replicate.
PHP On-Ramp and Off-Ramp
Coins.ph supports PHP deposits via bank transfer (Instapay/PESONet), over-the-counter deposits at partner outlets, and 7-Eleven cash-in. PHP withdrawals are supported to major Philippine banks and e-wallets. This extensive cash-in/cash-out network — particularly the convenience store integration — makes Coins.ph accessible to users without traditional banking relationships.
Fee Structure
| Service | Fee |
|---|---|
| Simple Buy/Sell (spread) | ~0.5%–1% |
| Pro Trading (maker) | 0.1% |
| Pro Trading (taker) | 0.2% |
| PHP Deposit (bank) | Free–50 PHP depending on method |
| PHP Withdrawal (bank) | 15–50 PHP |
| 7-Eleven Cash-in | Variable service fee |
| Bills Payment | Free or small convenience fee |
Pros & Cons
Pros
- Philippines' most established crypto platform (since 2014)
- BSP VASP licensed — pioneer regulatory relationship
- Bills payment, mobile load, remittance in one app
- Cash-in via 7-Eleven and partner outlets
- Millions of active users — deepest PHP liquidity
- Financial inclusion for unbanked Filipinos
Cons
- Simple buy/sell spreads are wide (~1%)
- Limited altcoin selection vs global exchanges
- No advanced derivatives or futures
- Customer support can be slow during high-volume periods
- Pro trading interface less polished than global platforms
Summary
Coins.ph is the essential entry point for cryptocurrency in the Philippines. Its decade-long track record, BSP license, and integration of crypto with everyday financial services (bills, remittances, mobile load) have made it the platform of choice for millions of Filipinos — many of whom came to crypto through Coins.ph before knowing what an exchange was.
For daily utility and PHP on/off-ramps, Coins.ph remains unmatched. For active crypto traders seeking better prices and more coins, supplementing with PDAX or a global exchange is advisable. But as a first crypto app for Filipinos, Coins.ph remains the default recommendation.