PR Newswire
22 Mar 2023, 12:30 GMT+10
MANILA, Philippines, March 22, 2023 /PRNewswire/ -- Coins.ph's affiliate, Coins Digital Markets Limited (collectively with Coins.ph shall hereinafter be referred to as "Coins"), has received 'in-principle" approvals for VASP licenses from the Financial Services Commission of Mauritius (the "FSC"). The VASP licenses include:
(a) Class "M" - Virtual asset broker-dealer;
(b) Class "O" - Virtual asset wallet services;
(c) Class "R" - Virtual asset custodian; and
(d) Class "S" - Virtual asset market place (or Virtual Asset Exchange).
This approval marks a significant milestone for Coins, allowing the company to expand its fiat and crypto services globally. Coins.ph is currently the most trusted crypto platform in the Philippines and has multiple licenses from the Bangko Sentral ng Pilipinas (the "BSP") including the recently acquired Advanced EPFS license for Coins Pro.
"As we work closely with regulators to ensure that our operations are safe and secure, obtaining the four virtual asset service provider licenses from the FSC is a positive step towards sharing our financial services with more people across the globe." says Wei Zhou, CEO of Coins.
The FSC is an integrated regulator for non-bank financial services sector and global businesses that licenses, regulates, monitors, and supervises multiple financial sectors. The "in-principle" approvals of these four VASP licenses from the Financial Services Commission of Mauritius (FSC) is a testament to Coins's commitment to safe and secure operations, as they work closely with regulators, in a bid to promote financial inclusion and crypto adoption worldwide.
For more information about Coins.ph, visit https://coins.ph and follow us on Facebook, Twitter, and Instagram.
About Coins.ph
Launched in 2014, Coins.ph is the most established crypto brand in the Philippines and has more than 16 million users. Through the easy-to-use mobile app, users can buy and sell a variety of cryptocurrencies and access a wide range of financial services. Coins.ph is fully regulated by the Bangko Sentral ng Pilipinas and is the first crypto-based company in Asia to hold both Virtual Currency and Electronic Money Issuer licenses from the central bank.
Get a daily dose of Asia Bulletin news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Asia Bulletin.
More InformationWASHINGTON D.C.: Jennifer Homendy, head of the US National Transportation Safety Board, has said the US will investigate recent near ...
MIAMI, Florida: Four Chinese citizens living in Florida have sued the state over a new law barring citizens of China ...
OSLO, Norway: Norwegian Defense Minister Bjoern Arild Gram has said that Norway would conduct training programs for Ukrainian pilots in ...
LOS ANGELES, California: Reuters has reported that California is seeking approval from the the Biden administration to require all new ...
LONDON, England: As part of Prime Minister Rishi Sunak's measures to bring down annual net migration, which reached a record ...
LONDON, England: An elderly woman, Helen Holland, struck two weeks ago by a police motorcycle escorting Sophie, the Duchess of ...
MENLO Park, California: As part of the last stage of a three-series round of staff layoffs, part of a plan ...
WASHINGTON D.C.: On its website, the US Federal Trade Commission (FTC) has said it is probing Abbott Laboratories and other ...
Representative Mike Gallagher, chair of the U.S. House of Representatives committee on China, says that after Beijing banned the sale ...
NEW YORK, New York - A relief rally hit Wall Street Friday as lawmakers made some progress on the debt ...
ALEXANDRIA, Virginia: Boeing Chief Executive Dave Calhoun said sector-wide supply chain problems that have hampered global jetliner production might not ...
SAN FRANCISCO, California: US semiconductor toolmaker Applied Materials Inc has said it plans to spend up to $4 billion on ...