Gojek Acquisition of Majority Share of Coins.ph, a Filipino Blockchain Fintech Startup

Although the expansion of its services in the Philippines has been hampered by licensing moratorium transportation, apparently Gojek still has big ambitions in the country. Today (18/1) his company announced that it is in the process of acquiring the company's majority shares fintech-blockchain local Coins.ph.

No transaction details have been revealed from the announcement. Later the Coins.ph platform will be synergized with Go-Pay to encourage cashless financial transactions in the Philippines. The Coins.ph team emphasized that this corporate action will not disrupt operations for their customers.

In his speech Founder & CEO Coins.ph Ron Hose said that the shared vision made him confident in this collaboration. He believes in the resources and expertise provided Gojek can encourage convenience and service access for users fintech in the Philippines.

Meanwhile CEO Gojek Nadiem Makarim said that this announcement marks the start of the company's long-term commitment to the Philippines. This was confirmed by Go-Pay CEO Aldi Haryopratomo's remarks. According to him, the behavior of consumer transactions in Indonesia and the Philippines has many similarities. The synergy between the two companies will accelerate penetration cashless society in the local area.

In general, Coins.ph services are similar to application e-wallet in general. Allows anyone to access digital financial services, such as making money transfers, paying bills, shopping online and more. In addition they also accept asset transactions cryptocurrency.

In its release, Coins.ph claims to have a customer base of more than five million people -- during its five years of operation. From that user base, Coins.ph has processed six million transactions per month.