Coins.ph launches three new cryptocurrency tokens

CITY ( PR)

FREEPORT— The Philippines’major Mobile Network Operators (MNO) namely DITO, Globe and Smart Communications are one with the government in the implementation of the Mobile Number Portability (MNP) Act.

Through their joint venture company, Telecommunications Connectivity Inc. (TCI), the three companies have successfully concluded the initial tests of their technical capabilities and interoperability on July 14, 2021.

The joint effort will soon allow customers the option to keep their mobile numbers permanently, even when they change network providers or switch subscriptions.

Against the backdrop of the ongoing pandemic, the MNOs said the outcome of these initial technical tests are ‘within expectations’.

After the initial tests yielded positive results, the next steps will be to streamline the external porting process, implement fraud and security safeguards, optimize systems and backend business operations in time for a smoother and faster porting experience for customers by September 30, 2021.

By conducting a successful actual porting test, DITO, Globe and Smart secured initial insights and details on how to address remaining concerns and possible challenges, before making the service available to all customers.

DITO, Globe and Smart have worked diligently to meet the July commitment with the National Telecommunications Commission (NTC) to achieve initial technical readiness, before the actual interporting demonstration with the telco regulator, a key milestone in the MNP process.

“As the newest player in the industry, we truly are excited to provide this service to Filipinos wherever they may be. When we entered the industry, it really was to encourage competition and innovation. With the Mobile Number Portability Act, we have broken down barriers and have given the Filipinos the power of convenience to finally switch to their preferred service provider,” lawyer Adel Tamano, DITO Chief Administrative Officer, said.

“The initial tests gave us a clearer view of the customer experience when they avail of the MNP, including the experience of customers as they interport to Globe numbers from other networks and vice versa.

We learned a lot in the process and we will apply them to make the transition easy and seamless for our customers once the MNP becomes available to all,” Issa Guevarra-Cabreira, Globe Chief Commercial Officer, said.

"We are working doubly hard with our counterparts from Globe and DITO to comply with the requirements. This is aligned with our company’s direction: customer-centricity as our True North. We have always been at the forefront of using technology to create better experiences for everyone, and the successful initial tests will help us understand and recalibrate our systems and processes, so we can make the MNP experience simple and easy for our customers. After all, making things simple, using technology, is at the core of the Smart brand promise,” Jane Basas, Smart Senior Vice President and Head of Consumer Wireless Business, said.

Republic Act No. 11202, also known as the Mobile Number Portability Act, ensures that mobile phone users can keep their numbers even when they transfer to another service provider, or when they switch their subscription from postpaid to prepaid, or vice-versa.

OF SAN FERNANDO--Coins.ph, the Philippines’ leading blockchain-based digital wallet, announces it will introduce three new cryptocurrency tokens: USDC, Chainlink, and Kyber Network Crystal (KNC). Beginning July 16, 2021, Coins.ph customers can buy, sell, and store these three tokens directly using the Coins.ph app.

“We are excited to announce the addition of USDC, Chainlink, and KNC tokens on our virtual assets platform,” said Nauman Mustafa, CEO of Coins.ph. “This is the first of many additions and enhancements we will release for this year. As Coins.ph continues to be the Philippines’biggest Virtual Assets Exchange, we owe it to our customers to keep innovating our products and services to create greater value.”

USDC, Chainlink, and KNC are ERC-20 tokens, which is a standard used to create tokens that run on the Ethereum blockchain. This allows them to be compatible with existing Ethereum wallets, while also serving their own specific use cases.

USDC is a stablecoin pegged to the value of the US Dollar. A stablecoin is a cryptocurrency designed to reduce volatility by basing its value on stable assets. USDC was developed by a partnership between Circle, a peer-topeer payments technology company, and Coinbase, one of the world’s largest cryptocurrency exch an ges.

Chainlink is a decentralized oracle network that allows smart contracts on Ethereum to access data from third-party data providers. This includes any realworld data such as live weather, price feeds, and more.

Kyber Network Crystal (KNC) is the native token of the Kyber Network, one of the most popular decentralized exchanges on the Ethereum network.

“We’re glad to see that Kyber’s utility token KNC is now easily accessible to the Philippine community through the Coins.ph mobile wallet,” said 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 still the same trusted mobile wallet service operating for more than seven year s.

“The goal of Coins is to make access to cryptocurrencies easy and convenient, and we hope to achieve that goal by expanding our users’selection of tokens on the platform,” Mustafa added.

To start using these new tokens, customers simply need to download the latest version of the Coins.ph app available in the Google Play Store, App Store, and Huawei AppGallery.

The USDC, Chainlink, and KNC wallets can be accessed by swiping left on the main wallet screen.

Customers need to be Level 2 or ID and Selfie verified to be able to avai l of these cryptocurrency services.

To learn more about USDC, Chainlink, and KNC, visit < support.coins.ph> .

( PR)