BitMEX invests in and partners with Philippine Digital Asset Exchange (PDAX)

BitMEX Ventures, the venture arm of the crypto derivatives exchange BitMEX, is backing and partnering with PDAX or Philippine Digital Asset Exchange, a BSP-regulated virtual currency exchange.

Co-founder and CEO of BitMEX, Arthur Hayes acknowledged that an ample amount cryptocurrency trading volume comes from Filipino users and that investing in PDAX is a big leap in their own mission of empowering traders with an affordable 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,” Hayes said.

With the investment from BitMEX and the use of blockchain technology, the PDAX team hopes to create a digital financial market, not just for cryptocurrencies but all kinds of digital investment products and securities for Philippines users.