Representatives of licensed exchanges in the Southeast Asian region emphasized the need to elevate cooperating in the digital asset space to a new level and make the region a powerhouse hub.

Regional cryptocurrency exchanges, including Coins.ph (Philippines), Coinhako (Singapore), Indodax (Indonesia) and Bitkub (Thailand) have established the Digital Asset Exchange Alliance.

"Coins.ph is excited to work with our regional counterparts in advancing the responsible and secure use of cryptocurrencies and promoting the development of user-friendly and compliant products for users," said Wei Zhou, CEO of Coins.ph. "We believe that the combined efforts of this Alliance will contribute to building a stronger, more resilient cryptocurrency ecosystem in Southeast Asia," he added.

The Alliance is a strategic partnership, signifying a notable advancement in unifying licensed exchanges across the region. It aims to enhance regulatory advocacy by harnessing the collective expertise and experience of the four founding exchanges. Additionally, it seeks to foster collaboration by sharing protocols and best practices, thereby elevating service quality and bolstering security measures.

Furthermore, the Alliance is committed to educating users about the benefits of trading on licensed exchanges and the importance of following regulatory guidelines. This extends to promoting financial literacy, consumer protection, and responsible trading practices in crypto.

"This Alliance is a significant milestone for Coinhako and the cryptocurrency industry. We believe licensed exchanges have a vital role in fostering trust and growth in the crypto space. By collaborating with Coins.ph, Indodax and Bitkub, we are taking a monumental step towards building a safer and more transparent ecosystem for users in the region," stated Coinhako CEO Yusho Liu.

The blockchain space continues to evolve, with a growing emphasis on regulatory compliance and a commitment to providing secure and trustworthy platforms. Coins.ph, along with Coinhako, Indodax and Bitkub, have distinguished themselves by placing great emphasis on security and trust through obtaining licenses from their respective regulatory bodies.

"Bitkub is committed to providing users with a secure and compliant trading platform. This Alliance is a significant step toward ensuring that the cryptocurrency industry in our region continues to evolve responsibly," said Bitkub CEO Atthakit Chimphalapibul. "By working closely, we can significantly impact shaping the regulatory framework and fostering trust," he added.