Coins.ph announces new management under Joffre Capital and Wei Zhou-led consortium
Coins.ph announces new management under Joffre Capital and Wei Zhou-led consortium
PHILIPPINES, APRIL 12, 2022 — Coins.ph, the Philippines’ premier fiat and crypto wallet services provider, announced today that it has completed its acquisition by Joffre Capital, a global technology buyout firm, and has acquired all necessary regulatory clearances.
The company’s new shareholders and management team, led by Wei Zhou, the former chief financial officer of global crypto exchange Binance, have recently joined the company and will focus on blockchain and digital asset activities.
“We are excited to be working with Joffre Capital to commit Coins.ph to the mission of bringing financial empowerment through blockchain technology and innovation. We have seen digital assets and Web3 applications impact everyday life in the Philippines and are honored to have the opportunity to build fully regulated products and services that will enable financial freedom for our users,” said Wei Zhou, CEO of Coins.ph.
Existing products and services will be preserved in the app, but will be updated to provide a more seamless user experience. Web3 will be the focus of Coins.ph’s future activities, with new crypto products and services slated to launch later this year.
“As a technology-focused buyout investor, Joffre Capital sees tremendous opportunity for value creation in Coins.ph to be innovative and crypto native to serve the digital-first users in the Philippines and other regions in the future. We are excited to be driving this mission with our partners led by Wei Zhou as the new CEO. The new management team’s technology and operational expertise is world class,” said Ding’an Fei, Managing Partner at Joffre Capital.
In addition to new products and services, Coins.ph plans to be much more active in the local community through online and offline events sponsorships, as well as regular user engagement and financial education initiatives.
Coins.ph currently has over 16 million users enjoying access to digital financial services such as e-wallet services, payments, and cryptocurrency trading.
The deal was advised by Spartan Group, a leading Asia-based blockchain and cryptocurrency advisory and asset management firm.
For more information about Coins.ph, visit https://coins.ph and follow it on Facebook, Twitter, and Instagram.
