Coins.ph, a leading digital asset platform in the Philippines, has formed a strategic alliance with Clear Junction, a payment infrastructure provider based in London. This partnership aims to enhance Coins.ph's services in the European and UK markets.
Through this collaboration, Coins.ph will leverage Clear Junction’s infrastructure to facilitate transactions in Euros (EUR) and British Pounds (GBP) for its corporate clients. This will also provide access to significant local payment networks, including SEPA and Faster Payments.
Innovative Payment Solutions with Virtual IBANs
Coins.ph plans to issue named virtual International Bank Account Numbers (IBANs) via Clear Junction’s technology. This system allows businesses to efficiently manage and track fiat payments, enhancing remittance matching and reconciliation processes.
Clear Junction gives us the European payment infrastructure we need as our international business continues to grow. Through the partnership, we can support named account structures, local payment rail access, and a clearer operating framework for our corporate and financial institution clients.
Wei Zhou, CEO of Coins.ph
Clear Junction's Chief Commercial Officer, Olga Mackintosh, emphasized that the company will ensure compliance with the regulatory frameworks of the EU and UK while providing essential payment capabilities.
Expanding Global Presence
Since its inception in 2014, Coins.ph has steadily expanded beyond the Philippines, with operations now in Thailand, Australia, Brazil, and Mauritius. The decision to partner with Clear Junction is rooted in the need to comply with stringent European regulations as it aims for further international growth.
This expansion follows several updates to Coins.ph's domestic offerings, including the integration of various cryptocurrencies into the Philippines’ national QRPh payment standard, allowing local users to transact with approximately 700,000 merchants.
Furthermore, Coins.ph has recently committed ₱3 million to the non-profit organization Angat Pinas, supporting relief efforts in response to a major earthquake in Mindanao, showcasing its dedication to corporate social responsibility.