HomeNewsPhilippines’ PDAX secures $50M in latest funding round

Philippines’ PDAX secures $50M in latest funding round

- Advertisement -


Philippine Digital Asset Exchange (PDAX), one of the popular crypto exchanges in the Philippines, announced Thursday that it raised $50 million in a Series B funding round led by investment firm Tiger Global.

Other participants in the round include Kingsway Capital, Jump Capital, Draper Dragon, Oak Drive Ventures, DG Daiwa Ventures, Ripple, and UBX Ventures. Also taking part are early investors Beenext Ventures and Cadenza Capital Management.

Launched in 2018 by founder and CEO Nichel Gaba, PDAX is one of the leading crypto exchanges in the Philippines, growing by more than 35 times in user sign-ups during the pandemic era. Gaba noted in the press release:

“Today, PDAX facilitates the exchange of crypto and fiat currencies, and enables payments in and out of metaverse applications. But there is still a lot of work to be done in building infrastructure. We are in the middle of developments that will continue to make access to digital assets safer, easier and more efficient for everyone.”

The exchange previously raised $12.5 million in August last year in its first close of the Series B funding. With the latest capital, PDAX plans to build a “safe and accessible infrastructure for the digital asset economy.”



Source link

- Advertisement -
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,580FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 43,393.00
ethereum
Ethereum (ETH) $ 3,115.86
tether
Tether (USDT) $ 0.997391
bitcoin-cash
Bitcoin Cash (BCH) $ 344.80
litecoin
Litecoin (LTC) $ 135.49
eos
EOS (EOS) $ 2.61
okb
OKB (OKB) $ 22.42
tezos
Tezos (XTZ) $ 4.24
leo-token
LEO Token (LEO) $ 6.28
cardano
Cardano (ADA) $ 1.16
monero
Monero (XMR) $ 178.41
stellar
Stellar (XLM) $ 0.230455
chainlink
Chainlink (LINK) $ 17.60
huobi-token
Huobi Token (HT) $ 9.91
tron
TRON (TRX) $ 0.068852
usd-coin
USD Coin (USDC) $ 0.992081
dash
Dash (DASH) $ 111.01
neo
NEO (NEO) $ 24.10
iota
IOTA (MIOTA) $ 0.961278
nem
NEM (XEM) $ 0.113922
zcash
Zcash (ZEC) $ 121.84
maker
Maker (MKR) $ 2,200.41
paxos-standard
Pax Dollar (USDP) $ 0.995441
ethereum-classic
Ethereum Classic (ETC) $ 35.18
vechain
VeChain (VET) $ 0.063438
true-usd
TrueUSD (TUSD) $ 0.993619
ftx-token
FTX Token (FTT) $ 45.54
kucoin-shares
KuCoin Token (KCS) $ 20.50
waves
Waves (WAVES) $ 11.25