Coins.Ph CEO Wei Zhou Reveals Market Shares in Monthly Active Users
The Chief Executive Officer (CEO) of Coins.Ph, one of the country’s crypto wallets, publicly shared its platform’s metrics, liquidity, and coin volume on crypto data aggregator CoinGecko.
The Philippine-based and homegrown crypto e-wallet has reached 11 million cumulative downloads, according to the presentation disclosed by Coins.Ph CEO Wei Zhou during the talk on the Future of Blockchain in the Public Sector at the Philippine Blockchain Week 2023.
According to Coins.Ph, the e-wallet platform that started its operations in the Philippines in 2014, had a total of 3.8 million customers who underwent the (Know-Your-Customer) process from the 11 million cumulative downloads.
The Coins.Ph CEO also noted that the platform’s peak monthly user count is around 4 million, and its market share by Monthly Active Users (MAU) is 54%.
Wei Zhou also disclosed that 51% of their users were female, while 49% were male. In terms of user’s age distribution, 12% fall within the 16-25 age bracket, 42% are in the 26-35 range, 27% are aged 36-45, 11% are between 46 and 55.5% belong to the 56-65 group, and 2% are 66 years or older.
Coins.Ph also shared some essential data like the geographical location of their platform’s users, 21% of Coins.ph users are situated in Calabarzon, 20% reside in the National Capital Region (NCR), 17% are located in Visayas, 14% can be found in Luzon, 5% call Davao home, with the remaining 23% scattered throughout other regions of the country.
Wei Zhou also noted that in Coins.Ph, the fiat and crypto Gross Transaction Value (GTV) is PhP10 Billion, while the fiat and crypto transaction amounts to Php97 Million.
The Philippines leading crypto wallet also granted public access to its liquidity through CoinGecko, and based on the data aggregator reports, the exchange trading volume for the last 24 hours was $1,078,620, with BTC/PHP being the most active trading pair with a 24-hour volume of $268,550.91.
In an interview with BitPinas, Jen Bilango, the country manager of Coins.ph explained why the firm publicly shares its platform’s metrics, liquidity, and coin volume on crypto data aggregator CoinGecko.
Jen Bilangco stated that the company decided to “set an example” for other cryptocurrency companies.
Most Web3 or cryptocurrency users in the Philippines started learning the technology through Coins.Ph.
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