Former Binance CFO Wei Zhou Purchases Crypto Wallet Coins.ph
According to the sources, the deal value is twice as much as what Gojek paid to acquire the startup in the first place.
Overview of Coins.ph
The Southeast Asian fintech Bitcoin exchange was established in 2014 by Ron Hose with the mission to include digital currency to all so that everyone with or without a bank account can access financial services via their phone.
The firm's mobile services included access to banking and digital payment services such as bill payments, game credit, online shopping, and much more. It is one of the first of its kind blockchain-backed platforms to garner 10 million consumers.
The Deal Between Gojek and Zhou
After CEO and Co-founder Ron Hose resigned from his position, he put away all his rights in the hands of Hassan Ahmed who left the company in 10 months. Then, Gojek took the reigns into their hands but could not successfully run the company, so the agreement was signed.
“We’re confident the Coins.ph team, supported by its new management, will continue to further its mission of increasing financial inclusion and creating a positive impact in the Philippines,” Gojek stated.
The agreement signifies one major factor that is the digital wallet startup will finally be led by a mega cryptocurrency exchange giant, thus helping it go back to its crypto roots.