Evolve Markets
Crypto Facilities

COINVIL and GLOSFER to set up local bitcoin exchange in the Philippines

Philippines Cryptocurrency Exchange Establishment Ceremony (From left to right, Kim Byungcheol, VP of GLOSFER; Park Rae-Hyun, CEO of COINVIL; Chang Joonhyuk, Executive of COINVIL)

GLOSFER, a first-generation blockchain company based out of South Korea, announced that it has signed an agreement with COINVIL on operating a cryptocurrency exchange in the Philippines.

Under the agreement, COINVIL will establish and operate a local corporation in the Philippines, while GLOSFER plans to build a cryptocurrency exchange and provide all solutions necessary for operating the exchange.

GLOSFER will also join efforts with COINVIL in formulating security policies and establishing a security system to help build a transparent and safe trading market.

“Following this agreement, we at GLOSFER will utilize our exchange-related solutions and expertise to signal a positive change in the Philippines cryptocurrency market. I am excited about the business opportunities ahead of us.”

CEO Taewon Kim of GLOSFER

“The Philippines will become the largest cryptocurrency trading market that connects Europe and Asia. Many countries across the globe already have a favorable view on the Philippines. By combining our infrastructure and sales capabilities with GLOSFER’s solutions and operations expertise, we will gain a competitive edge over others. Various projects will be carried out in the Philippines in addition to exchange building, such as creating an investment fund for promotion of the blockchain industry.”

Park Rae-Hyun, CEO of COINVIL

GLOSFER is a blockchain technology and services company in South Korea. Building on its roots as a first-generation blockchain company, GLOSFER strives to expand its activities into various industries to bolster its reach in both domestic and international markets, by leveraging innovative technologies and services, including its PHP API blockchain platform PACKUTH and its online and offline cryptocurrency trading platforms.

With its upcoming Infinity Project, powered by its HYCON coin, the company seeks to establish and facilitate its cryptocurrency ecosystem while contributing to a more transparent and fair society based on blockchain technology through cooperation with public institutions.

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