According to The Ken, Indonesia-based on-demand multi-service and digital payments platform, Gojek has sold Philippines-based fintech startup Coins.ph to Wei Zhou, the former chief financial officer of Binance.
The deal is reportedly valued at nearly US$200 million, which is double the amount of US$95 million paid by Gojek to acquire Coins.ph back in 2019.
As of now, Gojek has not responded to this matter.
Key Highlights
- Coins.ph was founded by Ron Hose in 2014 and the company started as a digital wallet to facilitate in buying and selling crypto assets.
- The fintech startup eventually added more financial products which include mobile top-ups, bill payments, and remittances.
- In 2020, Ron Hose left Coins.ph to join venture capital firm Wavemaker Partners as a venture partner.
- Hassan Ahmed became Coins.ph’s next CEO, but only for 10 months before joining US-based crypto exchange Coinbase as head of Southeast Asia.
- Last month, Coins.ph announced its integration with Ronin Network, an Ethereum sidechain developed by Axie Infinity publisher Sky Mavis.
