Concerned About Coins.ph? Here Are 6 Crypto Alternatives to Consider

For Filipino cryptocurrency investors concerned about recent regulatory developments involving Coins.ph, six alternative platforms are available in the Philippines, each offering different services, features and advantages.

The cryptocurrency industry has seen its share of major controversies. FTX collapsed in 2022 following a multibillion-dollar fraud involving customer funds, while Binance agreed to pay $4.3 billion in US penalties in 2023 and was subsequently blocked by Philippine regulators in 2024 for operating without the required authorization. These separate incidents highlighted the importance of regulatory compliance, financial transparency and protecting customer assets.

Coins.ph, meanwhile, is addressing regulatory issues after the Bangko Sentral ng Pilipinas (BSP) restricted incoming QRPH, InstaPay and PESONet transfers to DCPay Philippines, the operator of its peso e-wallet services, in September 2026. Its cryptocurrency operations are handled separately by Betur Inc., a BSP-registered Virtual Asset Service Provider (VASP).

On October 14 (Philippine time), international cryptocurrency news outlet CoinDesk reported that Coins.ph could face further regulatory sanctions, including possible license revocation, over alleged transactions involving offshore gambling operators. The report cited two sources familiar with the matter.

In an official statement published on its website, Coins.ph said it is “committed to serving only legitimate, compliant businesses” and maintains controls to prevent offshore gaming and gambling operators from using its platform.

Coins.ph assured customers that their funds remain safe and that it continues operating as a BSP-licensed institution. The company said it is strengthening its compliance controls and working with regulators to restore affected services. Cryptocurrency trading, cash-outs and other selected services remain available, and no license revocation has been confirmed.

For investors considering other options, here are six cryptocurrency platforms offering services in the Philippines, each with its own features and advantages.

Six alternatives to Coins.ph

1. Philippine Digital Asset Exchange (PDAX)

A BSP-registered local cryptocurrency exchange offering Bitcoin, Ethereum and other digital assets. PDAX also powers GCash’s GCrypto, giving the platform a presence in the country’s growing digital financial ecosystem.

2. GCash GCrypto

A cryptocurrency service integrated into the widely used GCash mobile wallet, powered by PDAX. GCrypto allows customers to buy, sell and manage selected digital assets directly through the GCash app, offering a convenient option for Filipinos already using the platform for everyday financial transactions.

3. Maya Crypto

A cryptocurrency service integrated into the Maya app, operated by BSP-registered Maya Philippines Inc. It allows users to buy and sell digital assets through a familiar mobile platform, making cryptocurrency trading accessible to everyday Filipinos.

4. GoTyme Go Crypto

A cryptocurrency service integrated into GoTyme Bank, backed by the Gokongwei Group and Tyme Group. Go Crypto allows customers to buy and sell selected cryptocurrencies directly through the bank’s mobile application.

5. UnionBank Crypto

A cryptocurrency service integrated into UnionBank’s digital banking platform. It offers eligible customers access to Bitcoin trading through an established Philippine banking institution known for its digital banking initiatives.

6. Moneybees

A BSP-registered cryptocurrency service provider offering buying and selling through partner outlets and trading desks. Moneybees provides over-the-counter cryptocurrency transactions, giving customers an alternative to app-based exchanges.

What should Filipino investors consider?

Not all cryptocurrency platforms offer the same services, security arrangements or trading features. Investors should examine regulatory status, financial transparency, security measures, withdrawal reliability and customer support before choosing a platform.

The BSP maintains a directory of registered Virtual Asset Service Providers, but registration does not guarantee protection against investment losses, hacking or operational disruptions. Investors should verify a provider’s current regulatory status before opening an account or transferring funds.

The lesson from past cryptocurrency controversies is clear. The size and popularity of an exchange are no guarantees of safety. Choosing where to buy cryptocurrency matters. Knowing how the platform protects your assets matters even more.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency investments carry significant risks, including the possible loss of funds. The platforms listed are not ranked or independently certified as safer alternatives. Readers should conduct their own research and verify current regulatory status directly with the BSP.

About the Author

Jocel de Guzman is co-founder of Scam Watch Pilipinas and developer of its Anti-Scam Quad Model, recognized as the only Filipino in the 2025 MAIA Global Top 50 Change Makers list for promoting financial literacy and protection against online and cryptocurrency scams.

He previously led advocacy efforts as Dogecoin Pilipinas, promoting cryptocurrency for community engagement and financial inclusion among Filipinos during the 2021 meme-coin surge.