Coin.ph Enables 5 Million Users to XRP Instead of Fiat Currency
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Coin.ph Enables 5 Million Users to XRP Instead of Fiat Currency

Coin.ph, a Philippines based financial services platform has added XRP based payments to its platform and therefore allowing for it to be a tool to pay their bills.

Coin.ph is a financial services platform founded by Ron Hose and Runar Petursson in Metro Manila, Philippines. It provides numerous services such as p2p wallet transfers, bill payments, mobile top-ups, remittance services and even online shopping. Its network covers tens of thousands of banks, pawnshops, payment outlets and door-to-door delivery across the country. The company uses digital currency as a low-cost entry into banking and helping financial institutions expand their reach to the unbanked individuals in the Philippines and Southeast Asia.

Coin.ph is funded well and backed by some leading investors in the venture capital industry. It initially was launched as a Bitcoin-based remittance service, however, it started integrating numerous services in its platform to be able to reach the 300 million+ unbanked individuals.

One of its most distinguished services is 24/7 Cardless ATM instead payout through which people can cash out Bitcoin at the nearest terminal any time of the day, without any fees. Using this service, people can access any ATM in the country and cash out BTC without much hassle.

In a recent interview, Colin Goltra, the head of cryptocurrencies of Coin.ph said that they have added XRP integration in a beta stage to a limited number of participants. However, as of right now, the trial is closed to new participants.

Goltra said,

We’re still gathering data and deciding on our level of support for XRP.

He further confirmed that there is no set date for the full rollout of XRP on Coin.ph .

While the debate on whether XRP is a security which would mean that it is centralized in the hands of few, companies like Coin.ph are starting to integrate XRP as it gains popularity among users and gain the power to reach higher levels.

Click here to learn more about XRP adoption.

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Pallavi Janiani

Pallavi Janiani

Content Writer
I am studying Business and psychology at the university of Minnesota. Apart from learning about how the economy and the human mind works, I spend my time dancing with my bollywood fusion team, reading, writing, traveling, usually with a cup of coffee in my hand.