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PDAX a crypto exchange in the Philippines

How is PDAX, a crypto exchange, going to take adaptation of cryptocurrency in the Philippines to the next level?


The Philippine Digital Asset Exchange (PDAX), a cryptocurrency exchange that holds the Bangko Sentral ng Pilipinas license, says it has raised US$12.5 million (about 630 million).

Back in 2018, PDAX launched its cryptocurrency exchange to make it easier for Filipinos to buy and sell digital assets like Bitcoin with their own money.

At some point in 2020, the PDAX mobile app was also made available to help people trade cryptocurrency more quickly.

Tokenized securities have also come a long way since then. It worked with the Bureau of the Treasury and UnionBank to create Bonds.PH, a blockchain-enabled app that allows people to invest in retail treasury bonds through an app.

The UK-based venture capital firm that led the funding round did not name itself. Hong Kong SFC-licensed digital asset operator BC Group, UnionBank’s UBX, CMT Digital, Beenext Ventures, and Ripple Labs are the other investors who have taken part.

The company said that the money would help with short- and long-term growth plans as PDAX grows and adds more products and features to its service.



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