Licenced crypto exchanges across Asean — namely Singapore’s Coinhako, the Philippines’ Coins.ph, Indonesia’s Indodax and Thailand’s Bitkub — have announced the formation of Digital Asset Exchange Alliance (DAEA).
DAEA aims to promote and advance the adoption of digital assets while adhering to the highest industry standards.
The alliance will focus on strengthening regulatory advocacy, sharing of protocols and best practices, creating market access as well as promoting educational initiatives.
“This alliance is a significant milestone for Coinhako and the entire cryptocurrency industry,” says Coinhako CEO Yusho Liu.
“We believe that licenced exchanges have a vital role to play in fostering trust and growth in the crypto space. By collaborating with Coins.ph, Indodax, and Bitkub, we are taking a monumental step towards building a safer and more transparent ecosystem for users in the region,” he adds.
Backed by investors including SBI Holdings and Sygnum Bank, Coinhako received Monetary Authority of Singapore’s approval for a Major Payment Institution licence in 2022.
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