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Coins.ph's TradeDesk hits P8 billion trading volume in January 2024

Technews

Coins.ph's TradeDesk hits P8 billion trading volume in January 2024

By Jonathan Castillo

Coins Tradedesk.png

Coins.ph has announced hitting P8 billion pesos in trading volume for its over-the-counter service TradeDesk last January.

Coins TradeDesk offers foreign and cryptocurrency exchange services for businesses, financial institutions, and high-net-worth individuals.

One of Coins.ph client is Seagulls, a company that allows users to send credit and settle bills across 100 countries.

"Using Coins.ph’s TradeDesk has been a factor for our success," said Jayro Franco, representative of Seagulls. "The real-time settlement and efficiency we've achieved through this has allowed us to expand our reach and offer even better value to our customers. We're thrilled with the partnership with Coins.ph and look forward to our continued success together," he added.

Through Coins TradeDesk, Seagulls has a real-time settlement of cross-border foreign exchange transactions using USDC, a stablecoin pegged 1:1 with the US Dollar. This streamlines their operations and allows the company to execute transactions seamlessly and cost-effectively to and from anywhere in the world.

“How Coins TradeDesk empowers Seagulls to achieve efficiency and speed in the latter’s business operations is exactly what we want to bring to other businesses in the Philippines. Digital assets such as stablecoins allow faster and cheaper settlement across borders and we see this being adopted more and more by businesses in the future,” said Wei Zhou, Coins.ph CEO.

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