Five Million Users reached by Philippines’ Crypto Wallet

Philippines’ Coins.ph reported it reached an immense 5 million users this week for its mobile payments application and hot crypto wallet
31 May 2018   1116

The company also declared it is going to add 2 new popular coins: bitcoin cash (BCH) and ether (ETH). 

We are excited and proud to provide 5 million customers with access to financial services. Our focus on creating financial inclusion to all Filipinos has propelled our growth to date. Millions of our customers have already used Coins.ph’s web and mobile apps to access a wide array of financial services, including buying load, paying bills, topping up their beep™ card, and purchasing digital currencies, all without needing a bank account.
Ron Hose
CEO, Philippines’ Coins.ph

Large part of the southeast Asian archipelago’s citizens struggle with inadequate economic possibilities and poor financial services. About a half of the Philippines is living on approximately $2 a day, and its central bank, Bagko Sentral ng Pilipinas, expected early last year that 86% of Philippines’ citizens are unbanked and cannot use basic banking services as the folks in the West do every day.

Five million users has come in only 4 years for the firm. It was established by Runar Petursson and Mr. Hose, both Silicon Valley veterans. So, their services are a way for Filipinos to become banked, a potential market of over 300,000 people. In the past 2  years, it has grown a common of $10mil in venture capital funding, indicating investors believe the company to be “on” to something.

Responding to consumer demand for additional blockchain-based services with an eye for future smart contract based financial services, and will also begin supporting Bitcoin Cash (BCH) next month, in an effort to support lower cost blockchain based payments.
Ron Hose
CEO, Philippines’ Coins.ph

The customers of the firm’s platform can receive all the advantages of ever-important remittance services, card top-ups, wallet transfers, paying bills, and even online shopping. 

GMO Internet to Report on BTC Mining Increase

Additionally GMO completely stopped mining Bitcoin Cash; in November 2017, it mined 400 BCH coins
09 January 2019   300

Japanese IT giant GMO Internet Group has published a report, which reported an increase in the number of BTC companies.

The company also confirmed information about the termination of the production of its own equipment due to significant financial losses. In addition, GMO confirmed plans to transfer mining capacities to regions with cheap energy prices and the possibility of switching to alternative energy sources.

During last December GMO mined 960 BTC. This is almost a third more than in November 2018. Also, this indicator is 45 times higher than the volume of extracted bitcoins during December 2017, when the company was just starting the mining business.

On the other hand, GMO completely stopped mining Bitcoin Cash (BCH). Note that in November 2017, the company mined 400 coins of this fork of Bitcoin.

Last December, the GMO mining hashrate was 670 PH / s, which is 30 times more than a year ago.

The company also announced that it will now provide reports quarterly.