PDAX launches 5 new coinsCryptocurrency

Filipino cryptocurrency exchange launches five new coins

PDAX (Philippine Digital Asset Exchange), a Philippines-based cryptocurrency exchange licensed by the Bangko Sentral ng Pilipinas, launches five new coins on its platform to meet demand from the local crypto community for more crypto options.

With the addition of Polygon (MATIC), Cardano (ADA), Dogecoin (DOGE), Polkadot (DOT), Avalanche (AVAX), PDAX’s number of listed cryptocurrencies now stands at 19. These five new coins will be available on the PDAX mobile app first, then released for desktop on a later date.

“We see the Philippines as a hotbed for mass crypto adoption and digital transformation, which is why our team is constantly seeking new ways to improve our products and services,” said Nichel Gaba, CEO, PDAX. “This year, we will stay true to our commitment to meeting the demands of our new and existing users. We’re set on listing more coins soon and take advantage of our growth as a company to grow the local crypto community as well.”

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According to PDAX, by June 2021, the volume of cryptocurrency transactions reached 20 million, while their value rose by 71% year on year to P105.93 billion.

“In June 2021, the crypto exchange raised $12.5 million or P630 million from a funding round led by a UK-based venture capital firm and joined by Hong Kong-based financial technology company BC Group,” PDAX said. “PDAX uses the fresh capital to increase support for new tokens and invest more into Bonds.PH, a blockchain-enabled platform where the Philippine government can sell retail Treasury bonds.”

PDAX or Philippine Digital Asset Exchange is a BSP-regulated virtual currency exchange that allows Filipinos to trade top cryptocurrencies and other digital assets using the Philippine peso at globally competitive rates in real-time. Founded in 2017, PDAX sets out to provide a fair, easy-to-use, and secure platform to invest in cryptocurrencies such as Bitcoin.