PDAX is a technology company.
PDAX has raised $50.0M across 1 funding round.
PDAX has raised $50.0M in total across 1 funding round.
PDAX (Philippine Digital Asset Exchange) is a cryptocurrency trading platform tailored for the Philippine market, enabling users to buy, sell, and trade digital assets like Bitcoin and Ethereum via an order-book exchange approved by the Bangko Sentral ng Pilipinas.[1][2][5] It serves Filipino individuals and businesses seeking secure access to cryptocurrencies, tokenized government bonds, and digital collectibles, addressing barriers to financial inclusion by offering easy cash-in/out options, low-risk bond investments, and enterprise-grade wallet security.[1][2][4] With $62.5M raised across funding rounds, including a $50M Series B led by Tiger Global, PDAX has demonstrated strong growth momentum in the local fintech space, boasting millions of users and features like deep liquidity and competitive rates.[1][5]
Founded in 2018 and headquartered in Taguig City, Philippines, PDAX emerged to fill the gap in accessible cryptocurrency trading for Filipinos, previously limited by international platforms.[1][5] Key leadership includes Nichel Merl Michael O. Gaba as Chairperson and CEO, driving its focus on regulated, user-friendly digital asset services.[3] Early traction came from Bangko Sentral ng Pilipinas approval as a virtual currency exchange, followed by pivotal funding: a Series B starting with $12.5M in 2022 and closing at over $50M from investors like Tiger Global, Kingsway Capital, Jump Capital, Draper Dragon, and Oak Drive Ventures, totaling $62.5M raised.[1][5]
PDAX rides the global cryptocurrency adoption wave tailored to Southeast Asia's fintech boom, capitalizing on Philippines' high remittance inflows and growing digital economy where traditional banking lags.[1][2] Timing aligns with BSP's regulatory push for virtual assets and tokenized securities, making government bonds "as easy as food delivery" via apps, democratizing investments amid rising inflation and financial literacy needs.[2][5] Market forces like Tiger Global's backing amplify its influence, positioning PDAX as a gateway for Filipinos to blockchain tech, stable yields, and NFTs from local creators, fostering a homegrown ecosystem that boosts crypto legitimacy and wealth-building in an emerging market.[1][4]
PDAX is poised to expand as a full-spectrum digital asset hub, potentially integrating more tokenized real-world assets and DeFi amid crypto's regulatory maturation in the Philippines. Trends like mobile remittances, CBDC pilots, and ASEAN blockchain growth will fuel its trajectory, evolving its influence from crypto exchange to everyday financial inclusion leader. As it scales post-Series B, expect deeper partnerships with banks and creators, solidifying its role in making wealth growth "a few swipes away" for millions—directly advancing its mission since day one.[1][2][4][5]
PDAX has raised $50.0M in total across 1 funding round.
PDAX's investors include AngelList, BEENEXT, Insight Partners, MUFG Innovation Partners, Tiger Global Management, Kunal Shah.
PDAX has raised $50.0M across 1 funding round. Most recently, it raised $50.0M Series B in February 2022.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Feb 1, 2022 | $50.0M Series B | AngelList, BEENEXT, Insight Partners, MUFG Innovation Partners, Tiger Global Management, Kunal Shah |