Coins.ph acquired by Wei Zhou, former CFO of Coin

Coins.ph's former chief financial officer Wei Zhou from Gojek.

In January 2019, Indonesian tech company Gojek acquired Coins.ph for $95 million, and Gojek reportedly sold it to Zhou for at least twice that amount.

According to The Ken, several regional investors familiar with Coins.ph or Gojek confirmed the acquisition.

Zhou has the potential to bring the Manila, Philippines-based company back to its cryptocurrency beginnings.

Coins.ph was one of the first cryptocurrency wallets and exchanges in the Philippines, launching in 2014. It then shifted its focus to providing a broader range of financial services.

"Gojek hasn't done much, which is disappointing because Coins is the dominant crypto wallet in the Philippines," a senior investment official familiar with the company told The Ken. "But with the current management, they plan to revitalize that part of the company's business revitalized as a crypto wallet and trading platform, transforming it into the Coinbase of Southeast Asia."

Zhou quit Coinbase in May last year for personal reasons. The company declined to comment on his position at the time. He hasn't updated his LinkedIn experience since then, so this article is the first sign of his re-emerging prospects in the crypto world. He has worked at Coins.ph for three years.

Requests for comment from Chow, Coins.ph and Gojek were not immediately returned.