BitMEX Ventures Invests in Philippine Cryptocurrency Exchange PDAX
Nichel Gaba, co-founder and CEO of PDAX, explained that the current financial infrastructure in the Philippines has limited Filipinosโ access to financial products and services.
โThrough digital assets and blockchain, we want to even the playing field to give every Filipino from all walks of life the ability to grow their hard-earned wealth,โ Gaba said. โWith the support of BitMEX and by leveraging blockchain technology, we hope to create a digital financial market that is accessible to everyone.โ
BitMEXโs investment will help strengthen PDAXโs exchange platform to create a marketplace not just for cryptocurrencies but all kinds of digital assets. Alongside regulatory developments, PDAX will enable the trading of commodities, real estate equities, and debt securities in token form.
Licensed by Bangko Sentral ng Pilipinas (BSP), the countryโs central bank, PDAX continues to work closely with relevant regulators to ensure safe and secure buying and selling of cryptocurrencies and other digital assets at the best price on the market.
Meanwhile, BitMEX co-founder and CEO Arthur Hayes said that BitMEX Ventures is committed to advancing financial inclusion and accessibility to trading cryptocurrencies.
According to Hayes, they see a substantial amount of trading volume from users in the Philippines and want to further empower traders with an affordable and seamless Bitcoin transfer platform without the previous charges that made financial transactions so cumbersome.
โWe are confident in the transformative potential of cryptocurrency and PDAXโs ability to widen access to the Philippines market and provide the tools to learn more about financial markets,โ Hayes said.
About BitMEX Ventures:
BitMEX Ventures builds and oversees a diverse investment portfolio of high-quality crypto and fintech companies with credible technology and innovative financial products complementary to BitMEXโs core businesses. BitMEX Ventures has made a number of investments since inception in 2018. For more information, visit www.bitmex.com.
About PDAX:
Philippine Digital Asset Exchange (PDAX) is a cryptocurrency trading platform designed specifically for the Philippine market. Approved by the Bangko Sentral ng Pilipinas to operate as a virtual currency exchange, PDAX is an order-book exchange that enables users to buy and sell cryptocurrencies and other digital assets at market prices. PDAX provides a fair, easy-to-use, and secure platform to invest in cryptocurrencies such as bitcoin as well as other assets that were previously inaccessible to Filipinos. For more information, visit www.pdax.ph.
This is a press release provided to BitPinas:ย BitMEX Ventures Invests in Philippine Cryptocurrency Exchange PDAX