September 18, 2019 – Philippine Digital Asset Exchange (PDAX) is now live for trading for Philippine users.
Licensed by the Bangko Sentral ng Pilipinas (BSP) as a virtual currency exchange, PDAX offers BTC, Ethereum, Litecoin, Bitcoin Cash, XRP, and Stellar for trading with PHP (Pesos). PDAX (company name Fyntegrate) is one of the few companies legally allowed to facilitate the exchange of cryptocurrency to fiat in the Philippines.
Recently, BitMEX ventures, the investment arm of Seychelles-based HDR Global Trading Ltd, has announced an investment in PDAX. While the details of the investment are not disclosed, PDAX CEO Nichel Gaba said in a statement that BitMEX will support the local exchange “in creating a digital financial market that is accessible to everyone.” BitMEX co-founder and CEO Arthur Hayes said, “We are confident in the transformative potential of cryptocurrency and PDAX’s ability to widen access to the Philippines market and provide the tools to learn more about financial markets.”
Last March 2019, BitPinas interviewed PDAX’s former Chief Marketing Officer Krystian Kucharzyk who said the biggest pain point right now in the local market is that it’s expensive to invest in cryptocurrencies in the Philippines, and that solving it has been their top priority.
“We are proud to say that on PDAX, investors will be able to invest in the cryptocurrencies they want at the lowest prices on the market. People can already head over to our website www.pdax.ph and see and compare our prices live.”
Head here to create an account in PDAX.
This article is first published on BitPinas: BSP-Licensed Crypto-PHP Trading Platform PDAX Now Live in the Philippines