2 years ago
Crypto speech Philippine Digital Asset Exchange, besides known arsenic PDAX, closed a $50 cardinal Series B backing circular led by backstage equity elephantine Tiger Global.
The circular started successful August, erstwhile the institution raised $12.5 million, according to a property merchandise shared with CoinDesk.
Founded successful 2018, PDAX wants to marque crypto accessible to the implicit 100 cardinal residents of the Philippines.
The backing volition spell "towards gathering harmless and accessible infrastructure for the integer plus economy," CEO and laminitis Nichel Gaba said.
Kingsway Capital, Jump Capital, Draper Dragon, Oak Drive Ventures, DG Daiwa Ventures, Ripple and UBX Ventures, besides participated successful the round.
Returning investors Beenext Ventures and Cadenza Capital Management besides participated successful the Series B.
Last year, the Southeast Asian state made headlines for its adoption of the play-to-earn (P2E) crippled Axie Infinity, which led to calls from the authorities to taxation P2E games.
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Eliza Gkritsi is CoinDesk's crypto mining newsman based successful Asia.
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