Southeast Asia Unicorn Go-Jek buys Coins.ph mobile wallet for $95 million


Indonesian ride-hailing firm Go-Jek, recently valued at more than $9 billion, acquired the Philippines-based Coins.ph mobile wallet for $95 million, according to a Pantera Capital investor note viewed by The Block. Coins.ph provides a blockchain-based remittance solution, P2P money transfer into the Philippines and other financial services to 5 million users, or 10% of the adult Philippines population.
Coins.ph, founded in 2014, has a history of being a cryptocurrency pioneer in Southeast Asia, as the first firm to be regulated in the region as a Virtual Currency Exchange and Electric Money Issuer (e-wallet.) It was also the first virtual currency provider licensed by the Bangko Sentral ng Pilipinas. Other large investors in Coins.ph included Digital Currency Group and Naspers.
According to Pantera Capital: