Coins.ph is a mobile/web platform that uses blockchain technology to offer its customers a convenient and affordable way to store money, make payments and do everyday activities like bill payments, shopping, and buying load.
Although it may share certain outward similarities to E-Money Issuer (“EMI”) platforms, Coins.ph is not an E-Money Issuer due to its underlying implementation. This is comparable to the way that SMS and WhatsApp are both similar but different ways to send messages. More precisely, the term “EMI” refers to a type of entity defined by Bangko Sentral ng Pilipinas (“BSP”) that is governed by specific rules as outlined in BSP Circular No. 649.
When you use your Coins.ph account, you are in fact using digital currency to store value and purchase services. This is true for both the bitcoin (“BTC”) and PHP wallets available in your account.
One of the benefits of owning a Coins.ph wallet is that it allows you to send/receive funds and purchase goods and services from anyone with a bitcoin wallet around the world. Just like how you’re able to send an email to anyone around the world, all you need to know to send money to someone is their unique bitcoin wallet address.