Cryptocurrency firm Unicoin Inc. is making bold moves in the Philippines, confident about the country’s growing interest in digital assets. The company is targeting $2 billion in deals by the end of the year and plans to set up a local office in Bonifacio Global City (BGC), Taguig.

Regulatory Approval in Progress

Unicoin, known for its asset-backed, dividend-paying cryptocurrency, is currently working to secure the necessary licenses from the Securities and Exchange Commission (SEC). Alex Konanykhin, CEO of Unicoin, shared that the company aims to establish a permanent presence in the country with an office at the World Plaza in BGC.

“The intent is to establish a strong presence in the Philippines, given the level of interest we’ve seen from investors,” Konanykhin told GMA News Online. The local team will initially consist of 10 to 12 members and will expand as the company grows its reach in the country.

$1 Billion in Real Estate Deals Already Secured

Unicoin has already made significant headway, securing $1 billion in deals, mainly in the real estate sector. According to Konanykhin, these deals include a mix of prime assets such as vacant lands, beach resorts, hotels, office towers, and residential properties located in Metro Manila, Boracay, and Clark.

In addition, Unicoin is in talks with high-net-worth individuals in the Philippines, with expectations that deals will exceed $2 billion by year-end.

Unicoin’s leadership is optimistic about the country’s cryptocurrency adoption, noting that the Philippines ranks fifth globally in crypto usage. Alex Dominguez, Chief Operating Officer of Unicoin, highlighted the Philippines’ vibrant digital economy and its potential to serve as a gateway for expansion across Southeast Asia.

“You guys in the Philippines seem to be more in tune with crypto adoption,” Dominguez noted, adding that the country’s digital-savvy population makes it an ideal launchpad for future growth in the region.

Future Plans: Unicoin to Be Listed on Coins.ph

Unicoin is also working to have its cryptocurrency listed on Coins.ph, a popular digital asset provider, by the end of November 2024. This move is expected to further boost the company’s local visibility and adoption among Filipino investors.

Unicoin’s expansion plans reflect a growing belief in the Philippines as a critical market for cryptocurrency adoption. With regulatory approval in sight, the company looks poised to make a lasting impact in the country’s fast-evolving digital landscape.