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Digital currency exchange Coins.ph and Globe Telecom Inc. have partnered to launch a loyalty program aimed at encouraging more Filipinos to trade cryptocurrency, an alternative type of investment that has been gaining traction recently.
In a statement on Thursday, fiat and crypto wallet services provider said that Globe prepaid and postpaid subscribers are now allowed to exchange reward points for Bitcoin and cryptocurrency vouchers via Coins.ph. The vouchers can then be redeemed for the digital assets of choice.
This enables the users to acquire these digital assets without shelling out money, which can be attractive especially for newbie investors.
“We’re introducing a new feature in the Coins.ph app called ‘Redeem Crypto’ to continuously empower Filipinos in their quest for financial freedom. Customers can now take advantage of mainstream loyalty programs such as Globe Rewards for a low- or almost zero-risk approach to get started with their crypto journey,” Coins.ph CEO Wei Zhou said.
“At the same time, we’re also opening opportunities for businesses to diversify their loyalty program offerings to remain competitive and maximize their potential for growth,” Zhou added.
Coins.ph allows users to trade 24 cryptocurrencies, including Bitcoin, Ether, Bitcoin Cash, Basic Attention Token, Axie Infinity Shard, Polygon, Uniswap and Yield Guild Games, among others.
“Besides helping our customers navigate the world as it opens up again, Globe understands that Filipinos continue to use more digital solutions in their daily lives. Now with Globe Rewards, they can start their crypto journey by redeeming rewards points for Coins.ph vouchers on the New GlobeOne app,” Globe Rewards head Jerome Patalud.
Prior to the partnership with Coins.ph, Globe has already enabled its users to access virtual currency via its financial technology platform GCash.
Coins.ph, meanwhile, reminded the public that cryptocurrency values were “highly volatile,” which meant prices could “go up and down in real time.”
“Buying Bitcoin and other cryptocurrencies carries a high level of risk and may not be suitable for everyone,” it added.