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Web3 Firms at CONQuest | Weekly Crypto News Roundup June 5, 2023

Photo for the Article - Web3 Firms at CONQuest | Weekly Crypto News Roundup June 5, 2023

Arguably the biggest event of the second half of the year is CONQuest 2023, which has become a pop culture convention of sorts since last year. It has every fandom, and there are also crypto and web3 firms that are either sponsors or organizers of the event, which we reported here based on information sent by Acadarena.

But the event itself was plagued by issues, from long lines to missed schedules. It’s going to be a big story soon, but not a story for BitPinas to tackle. In our list today, we cited some of the web3 firms that were at CONQuest. (Although we were not able to capture all.)

Here’s the top news:

Regulation and Policy

Photo for the Article - Web3 Firms at CONQuest | Weekly Crypto News Roundup June 5, 2023

SEC Commissioner: Crypto exchanges must register before offering securities

We asked SEC Commissioner Lee for additional information regarding the Commission’s advisory against Gemini. Recall that in the first week of May, Gemini announced its intention to sell derivatives in the Philippines. The SEC, three weeks later, releases a warning against them.

“The advisory is part of the Commission’s effort to secure the investment landscape. Investor protection is one of our primary mandates. We do not want unregistered and unlicensed entities to operate in the Philippines,” Lee told BitPinas.

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More information in this article.

Industry Developments

PDAX completes “system switch”

To simplify the user trading experience, homegrown cryptocurrency exchange Philippine Digital Asset Exchange (PDAX) recently implemented big changes across the entire platform through their four-phased system switch that was carried out in batches between April 27 and May 31, 2023.

  • The system switch aimed to address concerns related to trading and wallet experiences on the platform.
  • It would also allow PDAX to reduce maintenance downtimes, which is a complaint we hear a lot online about the platform.

UnionBank taps PDAX as official crypto partner

Photo for the Article - Web3 Firms at CONQuest | Weekly Crypto News Roundup June 5, 2023

Philippine Digital Asset Exchange (PDAX) has joined UnionBank’s Digital Business Solutions Partner Referral Program, allowing UnionBank to endorse PDAX’s crypto services and digital solutions to its business-to-business (B2B) clients.

  • The signing of the Memorandum of Agreement (MOA) took place on April 26, with key representatives from PDAX and UnionBank present.
  • UnionBank’s Digital Business Solutions Referral Partnership Program offers exclusive access to a curated set of partner solutions, including PDAX’s crypto services, to enhance banking services for UnionBank customers.

More News: Crypto and Blockchain

  • UP Diliman and Mapua students are among the qualified teams to compete in the UNBLOKC Hackathon.
  • Coins.ph held a crypto 101 at CONQuest 2023
  • GCrypto is official crypto offramp partner of YGG Pilipinas Web3 Community Summit

More News: Web3 and NFTs

Fintech News

Photo for the Article - Web3 Firms at CONQuest | Weekly Crypto News Roundup June 5, 2023
  • SEC has reportedly approved short selling in the stock market.
  • FintechAlliance.ph launched new campaign “Wag Magpalogo, Maging Scam Alerto”

Interview with Trust Wallet

BitPinas Trust Wallet

We interviewed the CEO of Trust Wallet Eowyn Chen. In the first part of a multi series, we talked about the early beginnings of the wallet and how it stands out in a very competitive crypto wallet market.

Things to Note: Bitcoin

Upcoming events and activities:

  • Stanible is the only NFT ticket partner of upcoming concert featuring local bans Kamikazee, Moonstar99 and more. 

For more on the latest news on cryptocurrency in the Philippines, always check out BitPinas: 

This article is published on BitPinas: Web3 Firms at CONQuest | Weekly Crypto News Roundup June 5, 2023

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.