Affluent sets fresh wave of interest for cryptos

A strong appetite for cryptocurrency trading, especially from clients with big wallets, was observed this year after digital asset exchange Coins.ph breached $1 billion in trading volume.

The crypto trading platform, in a recent report, noted the robust performance of its TradeDesk service, an over-the-counter channel for high net worth individuals and institutional clients.

Its clientele are digital asset natives, import-export enterprises, remittance providers and e-commerce merchants.

“Exceeding the $1-billion threshold this year is a testament to the superior experience TradeDesk provides to our customers, and signifies the trust our growing user base has in Coins.ph,” company CEO Wei Zhou said.

TradeDesk, which was launched in November last year, offers a variety of digital assets such as Tether (USDT), USD Coin (USDC), Bitcoin and Ethereum. It also supports trading for foreign currencies, including US dollars, euros, pound sterling, Singaporean dollars, Australian dollars and other major fiat currencies.

Minimum trading size is $20,000. Clients may pay via banks, e-wallets and Coin.ph’s own wallet.

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The platform also launched QR (quick response)-based payment method last year. This is in line with the government’s cashless payment drive.

“Our customers value TradeDesk for its tailored trading experience, supported by dedicated account managers promptly addressing queries and providing quotes,” Zhou said.

Launched in 2014, Coins.ph is a crypto exchange regulated by the Bangko Sentral ng Pilipinas. It has over 18 million users. INQ