PDAX completes $50 million Series B financing, led by Tiger Global

On February 10, according to official news, the Philippines-based cryptocurrency trading platform PDAX completed a $50 million Series B financing led by Tiger Global, Kingsway Capital, Jump Capital, Draper Dragon, Oak Drive Ventures, DG Daiwa Ventures, Ripple and UBX Ventures , Beenext Ventures and Cadenza Capital Management participated in the investment. The exchange has been licensed by the Central Bank of the Philippines, and the funds from this round of financing will be used to build high-quality infrastructure for the digital asset ecosystem. Previously, PDAX had partnered with the U.S. Department of the Treasury and Union Bank of the Philippines to launch Bonds, a blockchain-based bond trading program. In August 2020, PDAX completed a $12.5 million financing, led by BC Group, with participation from CMT Digital, UBX, Beenext Ventures, and Ripple.