Meet PDAX! It just closed over $50M in its Series B, led by Tiger Global. Once just a local exchange platform for cryptocurrency, it now also enables payments in and out of the metaverse. (Hello, Web3!)

• It has over 500,000 users on its crypto exchange platform.
• It's Tiger Global's fifth investment this year.

Who else cashed in? Kingsway Capital, Jump Capital, Draper Dragon, Oak Drive Ventures, DG Daiwa Ventures, Ripple, UBX Ventures, BEENEXT, Cadenza Capital Management joined in.

🗣  Talking trades

Its main product is its cryptocurrency exchange, PDAX, which is licensed and regulated by the Philippine Central Bank.

Accessible and affordable. It allows people to buy and sell crypto directly with PHP (the Philippine peso).

• Can't afford a whole coin? Doesn't mean you can't trade — start treading for as low as Php 200 (aka, $4) through fractional coins.
• Trade multiple cryptocurrencies, including BTC, ETH, XRP, SLP, Doge, AXS and more.
• Less fees, more cash! Using PHP means no conversion fees or fluctuating spreads.

Bockchain bonds. It launched Bonds.ph in partnership with UnionBank of the Philippines in 2020, a blockchain-based app that was the first to allow Filipinos to buy government securities on their phones.

• In 2021, it raised $12.5M in its first close of its Series B to expand Bonds.ph.

🚀  Moving into the metaverse

The Philippines is a major market in the for crypto and Web3, and PDAX is cashing in on the opportunity.

• Last year, Filipinos were almost half of Axie Infinity's daily active users and 17% (3.57M) of MetaMask, a popular crypto wallet's users.

ScholarPay. With so many Axie players and guilds, ScholarPay makes it quick, convenient and safe for guilds to pay their scholars.

• No more expensive mistakes with secure transactions.
• Get the best PHP conversion rates and low transaction fees, so you bring home more money.
• It works with the Philippines' most popular payment channels and banks.

😎  What's next?

It's doubling down on building infrastructure to make access to digital assets safer, easier and more efficient.