BitMEX Ventures, the corporate venture arm of the crypto trading platform BitMEX, has invested in a Philippines based cryptocurrency exchange platform, PDAX (Philippines Digital Asset Exchange), as reported on 3 June 2019.
This enables PDAX to extend its service of digital assets beyond cryptocurrencies. Tokens can be used to trade commodities, real estate equities and debt securities. This will help PDAX to launch an official platform from its BETA version. The goal of the platform is to provide an open-market for cryptocurrencies and other assets to secure a digital financial market for all kinds of investment products and securities.
The CEO of PDAX, Nichel Gaba, believes that this will have a twofold effect, that is, it will increase cryptocurrency adoption and awareness among people about digital assets. He said:
“Through 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. With the support of BitMEX and by leveraging blockchain technology, we hope to create a digital financial market that is accessible to everyone.”
Arthur Hayes, co-founder and CEO of BitMEX, believes that Filipino users contribute considerably to cryptocurrency trading. Taking this opportunity, investing in PDAX comes as a savior to accomplish the mission of providing users with a reasonable and seamless platform.
We are confident in the transformative potential of cryptocurrency and PDAX’s ability to widen access to the Philippine market and provide the tools to learn more about financial markets.”
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