Coins.ph unveiled its plans to expand into the Australian market in 2024.

The announcement comes after Coins.ph’s Australian arm successfully acquired an AUSTRAC (Australian Transa ph’sn Reports and Analysis Centre) Digital Currency Exchange registration, which is required to provide cryptocurrency exchange services in Australia.

This strategic move underscores the homegrown company’s commitment to broadening its reach internationally and bolstering its availability of regulated and compliant digital asset services.

“Coins.ph is primed for global expansion. Our journey began nearly a decade ago in the Philippines. Since then, we’ve onboarded 18 million customers and expanded our services in both digital asset exchange business and e-wallet services,” said Coins.ph CEO Wei Zhou.

“Our team has top-tier talents with good experience in this industry. “We’re thrilled to bring these capabilities to new markets,” he added.

We’reins.ph continues to innovate and push the boundaries “of digital financial services; this expansion marks a significant milestone in the company’s global journey. Australia is a crucial growth market for Coins.ph.

According to a report by the Independent Reserve, in 2021, 28.8 percent of Australians were reported to own or have owned cryptocurrency, compared to 18.4 percent in the year prior. The country is also home to many overseas Filipinos who can now look forward to a more connected financial experience that bridges their lives down with their roots in the Philippines.