PDAX bullish as crypto gains
‘All the regulated virtual currency platforms process around $2-3 billion transactions. I think next year it is likely gonna double and that figure does not even include activities in unregulated exchanges’
Philippine Assets and Digital Exchange or PDAX is optimistic that the multi-billion-peso local virtual currency market will further gain momentum due to the government's proactive stance to support financial technology innovations and crack down on fraudulent platform operators.
BSP gives backing
"The Bangko Sentral ng Pilipinas or BSP has remained very supportive of all kinds of financial innovation and this year, they improved their supervisory capabilities. They are watching the players more and they are taking their jobs seriously. The requirements are much more complex than they were," PDAX CEO and Founder Nichel Gaba said in an interview with reporters on Tuesday.
Founded in 2018, PDAX is a cryptocurrency exchange operator licensed by the BSP available both as a web-based and mobile app.