PDAX Wraps 2022 As It Achieves 800K Users

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Editing by Nathaniel Cajuday

  • As 2022 ended, PDAX revealed that it reached 800,000 users. 
  • According to the exchange, achieving almost a million users before 2022 ends is part of its initiatives to improve its products and services and help increase crypto awareness in the country.
  • In this article, all the activities and involvement of PDAX in the web3 space are also listed. 

To conclude the recent year, homegrown exchange Philippine Digital Asset Exchange (PDAX) revealed in an email to customers that it has recently reached 800,000 users by the end of 2022.

Aside from this, PDAX also shared its other significant milestones last year, citing that these initiatives “made improvements in its products and services and helped increase awareness and acceptance of cryptocurrency in the Philippines.”

PDAX 2022 Wrap

  • Successfully Raised $50M for PDAX Improvements (February)

Last February 10, PDAX announced that it had raised more than $50 million in a Series B round of funding led by Tiger Global; the funding began with $12.5 million in August 2021. According to Nichel Gaba, the CEO of PDAX, the funding was meant to cater to the growing NFT and play-to-earn markets in the Philippines as well as improve its customer experience. 

  • Velo Labs x PDAX (March)

Blockchain-based financial protocol Velo Labs has collaborated with PDAX to improve cross-border payments to the Philippines using the transformational power of blockchain technology. Through this partnership, the two were also able to open a remittance corridor into the country using the Stellar Network. 

  • PDAX Prime (March)

PDAX also launched Prime in the same month as its partnership with Velo Labs, the new platform has allowed users to have the option to upgrade, giving them access to a total of 70 cryptocurrencies, including exclusive, over-the-counter tokens.

  • PDAX x Notabene (April)

To implement the firm’s compliance with the “Travel Rule,” a government policy that requires customers to divulge personally identifiable information when their transactions exceed a certain threshold, PDAX partnered with and acquired the services of US-based crypto regulatory technology firm Notabene. 

  • Donate Service (July)

In July, PDAX Donate was introduced. It is a service offering where users can directly send crypto donations directly to the PDAX wallet of a non-government organization (NGO), charity, or foundation that they want to help. 

  • New tagline (October)

Recently, PDAX launched its new campaign tagline, “Choose PDAX!” The transition aimed to further boost the onboarding of users into the platform and reinforce its commitment to bringing Filipinos to the future of finance. 

  • PDAX x GCash (October)

In exclusive coverage, BitPinas learned through Gaba and Neil Trinidad, the Vice President of Crypto at GCash, that the mobile e-wallet will launch its crypto buy and sell service called “GCrypto” in partnership with PDAX.

  • PDAX x DSLU x YGG Alerts (October)

The exchange, in partnership with Yield Guild Games Alerts (YGG Alerts) and De La Salle University (DLSU), also launched the De La Salle Interactive Entertainment and Gaming Innovation and Talent Expo (DigitX) in the Decentraland metaverse from October 3 to October 9.

  • LinkedIn Top Startup

Also in October, PDAX was on the first-ever list of top startups on the professional network LinkedIn. 

  • PDAX x Philippine Business for Social Progress (November)

Following the launch of PDAX Donate last July, the Philippine Business for Social Progress tapped PDAX to create a dedicated donation website that would allow crypto users and supporters of the NGO to send their crypto donations from anywhere in the world. 

  • PDAX CEO Named as One of the First Blockchain Champions of the Philippine Block Awards (December)

During the Philippine Blockchain Week’s awards night, called the “Philippine Block Awards,” which was celebrated last December 2, 2022, Gaba was one of the Philippine web3’s most  prominent names that received the Blockchain Champion award. 

  • 2022 Events

As the physical and in-person events returned last year, PDAX was one of the firms that joined the recently concluded events to showcase what their firms have to offer. During Conquest 2022 last July, PDAX was one of the web3 companies to have a booth and gave away cryptocurrencies to the attendees. PDAX was also present during the Philippine Web3 Festival and Philippine Blockchain Week

  • 2022 Crypto Highlights

According to PDAX, they were able to give away up to 400,000 worth of crypto rewards after the launch of their promos such as, “double your SLP,” “Its Raining Crypto,” and the still ongoing “Year End Crypto Sale.” 

PDAX also launched 22 new cryptocurrencies on its platform, bringing its total digital asset offering to 36. 

Last February, PDAX added five new coins: Polygon (MATIC), Cardano (ADA), Dogecoin (DOGE), Polkadot (DOT), and Avalanche (AVAX). In April, it added the tokens of the popular blockchain game Axie Infinity— Axie Infinity Shards (AXS) and Smooth Love Potion (SLP)—to the platform.

After a month, it included the tokens Solana (SOL), BNB (BNB), Stellar (XLM), and Sushi (SUSHI) in its list.

By August, it announced the addition of nine cryptocurrencies to its mobile application, namely: Binance USD (BUSD), Pax Gold (PAXG), ApeCoin (APE), Green Metaverse Token (GMT), Green Satoshi Token (GST), Algorand (ALGO), Decentraland (MANA), The Sandbox (SAND), Gala (GALA).

The other 14 coins that were added before 2022 are: 

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether (USDT)
  • USD Coin (USDC)
  • Litecoin (LTC)
  • Wrapped Ethereum (WETH)
  • Shiba Inu (SHIB)
  • AAVE
  • Enjin (ENJ)
  • Basic Attention Token (BAT)
  • Bitcoin Cash (BCH)
  • Compound (COMP)
  • Graph (GRT)
  • Chainlink (LINK)

“The blockchain and crypto space had its challenges this 2022 as the global market underwent shifts and turns. Despite it all, PDAX achieved growth as we continue to promote crypto adoption and literacy in the Philippines. As we enter another year of being the leading homegrown cryptocurrency exchange, we wish to thank you for all your support and continued patronage. We owe all of this year’s milestones and achievements to you, our users, as you #ChoosePDAX,” PDAX concluded.

How to Create a PDAX Account

  1. Go to the PDAX mobile app and log in to your account.
  2. In your Portfolio tab, click Verify Now.
  3. Enter your personal information.
  4. Complete our biometric check.
  5. Upload a photo of your ID.
  6. Then wait for the confirmation email.

How to Trade Crypto at PDAX

  1. Sign in to your PDAX account.
  2. Make sure you have enough balance in your wallet.
  3. Tap the Trade icon, then select the cryptocurrency you wish to buy or sell.
  4. Enter the amount you wish to trade for the selected cryptocurrency. Alternatively, you may choose a percentage (25%, 50%, 75%, 100%), and the system will automatically calculate the amount for you.
  5. Tap the Convert button.
  6. Click Confirm.
  7. Return to Trade and tap the Trade Activity icon at the top right to view the status of your order.

This article is published on BitPinas: PDAX Wraps 2022 As It Achieves 800K Users

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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