Interview Clip: PDAX on Working with the Regulators
Vincent Tio, Head of Platform Solutions at PDAX, joined BitPinas Editor-in-Chief Michael Mislos to discuss PDAX’s recent recognition it received from the BSP, as well as how it works with the key crypto regulator in the Philippines
- The interview happened at the beginning of the webcast: “How Celo is Bringing Web3 Solutions to the Philippines” featuring Celo Foundation President Rene Reinsberg and GCrypto Head Luis Buenaventura.
In Focus: PDAX is a licensed cryptocurrency exchange in the Philippines.
- Recent news: After last year’s “system switch” for simplified trading experience on the platform, the PDAX has added more tokens, expanded its collaboration with GCash, re-introduced bonds, and launched a hold-and-earn promo.
The following excerpt from the webcast focuses on Tio’s response regarding what it’s like working with the BSP at a time when cryptocurrency goes beyond just buying, selling, and trading, to include innovations like NFTs, memecoins, security tokens, Web3 games, and more.
Interview: PDAX on Working With The BSP
Michael Vincent Mislos, Editor, BitPinas: Recently, PDAX received recognition from the BSP as one of the 2024 outstanding stakeholders. Your CEO, Nichel, mentioned that it’s been your privilege to work side by side with the government for financial innovation in the country.
PDAX has been around for quite some time now, as one of the first crypto exchanges here. How is it like to work with the BSP, especially in this new age of crypto? We’re not just talking about simple buy-and-sell or trading, but now we have NFTs, security tokens, memecoins, and Web3 games. How do you explain these innovations to our regulators?
Vincent Tio, Head of X, PDAX: Thanks for the question, Mike. Actually, it’s been pretty fun working with our regulators and the BSP.
For most people, if you’re just looking at it from the outside, you might think, ‘Oh, the regulators are there to stop a lot of things.’ But from what we’ve experienced, they’ve been very collaborative.
They really want to make sure that the new technologies happening across the world reach the Philippines and are easily accessible to Filipinos. They listen, and the work that we do with them has been pretty good. One of the key priorities here at PDAX is to align any new initiatives with ongoing regulations while helping to pave new paths forward. With these new technologies constantly emerging, it’s hard to keep up—there’s so much happening in this space. This year alone, we’ve seen ETFs and a lot of other developments.
Tio: So, I guess working alongside the regulator in this sense has garnered us this recognition. It’s been a pretty fun and collaborative experience, I would say.
Keep watching the BitPinas webcast and read this website for interviews with the people who move the crypto industry in the Philippines forward.
This article is published on BitPinas: Interview Clip: PDAX on Working With The BSP
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