Gojek Reports Major Shares Acquisition of Coins.ph, Philippine-based Fintech-Blockchain Startup

Gojek Reports Major Shares Acquisition of Coins.ph, Philippine-based Fintech-Blockchain Startup

It's part of Gojek's long-term commitment in Philippines
Coins.ph is an e-wallet app that serves various financial transactions in Philippines
Coins.ph is an e-wallet app that serves various financial transactions in Philippines

Despite the challenge of its expansion in Philippine regarding moratorium on transportation licensing, Gojek’s ambition for this country seems high. Today (1/18) they announced an acquisition process of local fintech-blockchain’s major shares, Coins.ph.

There’s no trasaction detail revealed from the announcement. Later, Coins.ph platform will be synergized with Go-Pay to boost non-cash financial transaction in Philippines. Coins.ph team emphasized on this cororate action wouldn’t disrupt operations for customers.

Ron Hose, Coins.ph‘s Founder and CEO said in his speech what makes him confident about this partnership, is the same vision. He believes Gojek’s resource and skills can provide convenience and access for fintech users in Philippines.

Nadiem Makarim, Gojek’s CEO added, this announcement is a sign of our long-term commitment in Philippines. It was confirmed by Aldi Haryopratomo, Go-Pay’s CEO in his speech, mentioning the similar habit of consumer’s transaction in Indonesia and Philippines. This synergy will fasten the cashless society penetration in the region.

In general, Coins.ph is similar to other e-wallet apps. It allows anyone to access digital financial service, such as money transfer, bill payment, online shopping, and many more. In addition, they also accept cryptocurrency asset transactions.

Coins.ph claimed in its release to have customer base of more than five million people – in five-year operation. Based on this, Coins.ph has proceed six million transaction per month.


Original article is in Indonesian, translated by Kristin Siagian

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