The Philippines’ top blockchain-based digital wallet, Coins.ph, has announced three new cryptocurrency tokens: USDC, Chainlink, and Kyber Network Crystal (KNC). Customers of Coins.ph will be able to buy, sell, and store these three tokens directly through the Coins.ph app starting July 16, 2021.
Coins.ph CEO Nauman Mustafa said, “We are happy to announce the addition of USDC, Chainlink, and KNC coins to our virtual assets platform.” “This is the first of many improvements and upgrades we’ll make this year. We owe our clients to continuously evolve our products and services to generate greater value while Coins.ph continues to be the Philippines’ largest Virtual Assets Exchange.” USDC, Chainlink, and KNC are ERC-20 tokens, a standard used to build tokens that run on the Ethereum blockchain. This enables them to work with existing Ethereum wallets while still meeting their own unique needs.
USDC is a stablecoin that is tied to the US Dollar. A stable coin is a cryptocurrency whose value is based on stable assets, reducing volatility. USDC was created through a collaboration between Circle, a peer-to-peer payments technology business, and Coinbase, one of the significant cryptocurrency exchanges in the world.
Chainlink is a decentralized oracle network that allows Ethereum smart contracts to access data from third parties. Any real-world data, such as live weather, pricing feeds, and so on, is included.
The Kyber Network Crystal (KNC) is the native token of the Kyber Network, one of the most prominent Ethereum-based decentralized exchanges.
“We’re pleased to see that Kyber Network’s utility token KNC is now available to the Philippine community via the Coins.ph mobile wallet,” stated Loi Luu, CEO, and Co-Founder of Kyber Network. “With KNC, Coins.ph users can also participate in Kyber’s governance through the KyberDAO.” While the tokens are new, the Coins.ph app is the same trusted mobile wallet service that has been in operation for over seven years. “The purpose of Coins is to make cryptocurrency access simple and convenient for our users, and we want to achieve that goal by extending the number of tokens available on the platform,” Mustafa added.
Customers only need to download the current version of the Coins.ph app from the Google Play Store, App Store, or Huawei AppGallery to begin using these new tokens. Swiping left on the main wallet page will take you to the USDC, Chainlink, and KNC wallets. To use these cryptocurrency services, customers must be Level 2 or have their ID and Selfie validated.
Visit support.coins.ph to learn more about USDC, Chainlink, and KNC.