Coins.ph, Globe tie up for crypto transactions

COINS.PH, a fiat and crypto wallet services provider in the Philippines, said on Wednesday it has partnered with Globe Telecom, Inc. for a new offering for its loyalty program Globe Rewards.

“Starting July 20, prepaid and postpaid subscribers can start exchanging rewards points in their new GlobeOne app for Bitcoin and cryptocurrency vouchers redeemable at Coins.ph,” the crypto wallet company said in an e-mailed statement.

Through the partnership, users can redeem rewards points and complete a crypto transaction without using their own money. The new feature on the Coins.ph application is called Redeem Crypto. Users must be “Level 2 verified” to redeem.

“The available denominations are P5, P10, P25, P50, and P100, each with a corresponding number of points required for redemption,” the company said.

The goal is to “empower Filipinos in their quest for financial freedom,” said Wei Zhou, CEO of Coins.ph.

“Customers can now take advantage of mainstream loyalty programs such as Globe Rewards for a low- or almost zero-risk approach to get started with their crypto journey.”

The company also said that it will be opening opportunities for enterprises to diversify their loyalty program offerings to “remain competitive and maximize their potential for growth.”

The platform gives access to 24 cryptocurrencies and crypto tokens, including BTC (Bitcoin), ETH (Ether), BCH (Bitcoin Cash), BAT (Basic Attention Token), XRP (Ripple), USDC (USD Coin), USDT (Tether), AAVE, AXS (Axie Infinity Shard), CHZ (Chiliz), GALA, KNC (Kyber Network Crystal v2), LINK (Chainlink), MATIC (Polygon), MKR (Maker), SAND (The Sandbox), SLP (Smooth Love Potion), UNI (Uniswap), and YGG (Yield Guild Games).

“Cryptocurrency values are highly volatile and prices may go up and down in real time. Buying Bitcoin and other cryptocurrencies carries a high level of risk and may not be suitable for everyone,” Coins.ph said. — Arjay L. Balinbin