Overview
The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has officially approved the Philippines Digital Asset Exchange (PDAX) to operate as a licensed cryptocurrency exchange. PDAX facilitates trading between cryptocurrencies and the Philippine peso (PHP), marking a significant milestone in the country’s digital finance landscape.
Supported Cryptocurrencies
PDAX is among the first exchanges tailored for Filipino users, offering a seamless platform for trading popular cryptocurrencies and digital tokens. Initial supported assets include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
The exchange plans to expand its offerings based on local demand, with additional tokens expected in the coming weeks.
CEO’s Perspective
Nichel Gaba, CEO of PDAX, emphasized the significance of this approval:
"As seasoned providers in the crypto space, receiving BSP’s endorsement not only excites us but also reinforces investor confidence in blockchain-driven digital transformation. Our goal is to democratize access to financial tools and platforms."
Regulatory Compliance
PDAX adheres to strict regulatory standards set by the BSP, including:
- Registration with regulatory authorities.
- Anti-money laundering (AML) measures.
- Risk management and security protocols.
- Transaction monitoring to comply with local laws.
This compliance ensures a secure and transparent trading environment for users.
FAQs
1. What is PDAX?
PDAX is the Philippines’ first BSP-approved cryptocurrency exchange enabling PHP-to-crypto transactions.
2. Which cryptocurrencies can I trade on PDAX?
Initially, BTC, ETH, XRP, BCH, and LTC, with more to be added soon.
3. Is PDAX regulated?
Yes, it fully complies with BSP’s regulatory framework, including AML and security requirements.
4. How does PDAX benefit Filipino users?
It provides a localized, secure platform for easy access to digital assets.
5. Will PDAX list more cryptocurrencies?
Yes, expansions are planned based on market demand.
👉 Explore PDAX’s official platform for real-time trading updates.