On June 28th, 2018, Virtual Currency Philippines Incorporated (VCPI) officially obtained the license from Bangko Sentral ng Pilipinas, the Central Bank of Philippines to run VHCEx, a cryptocurrency exchange platform.
The importance of having a license in this sphere provides a high level of reliability and credibility to the user. Being a new commodity to the market, it is of grave importance to trade cryptocurrency on a reliable platform to ensure one’s assets regulated and protected to a certain baseline.
Philippines are amongst the first countries in the region to regulate exchanges, it was a natural move for VHCEx to undertake the regulatory procedures to ensure it was licensed to operate under a governing entity.
The exchange currently has five coins traded on its platform, Bitcoin, Ether, VHC, HWGL and HWGW. It will continue adding other coins to be traded on its platform in the near future.
In order to keep the exchange credible, there is a vetting process to ensure all coins that are listed on the exchange are in line with the regulatory body and the VHCEx framework. For those who are interested to list their coins on VHCEx may contact the support team at [email protected]x.com.
Powered by Froala Editor