Top Categories

Featured

29

Beginner

30

Intermediate

9

Tokens

75

PDAX

48

Create Account
PDAX x Velo.png

Velo Labs and PDAX open remittance corridor using Stellar network

PDAX Photo

PDAX

March 25, 2022

2 min read

PDAX

Velo Labs and Philippine Digital Asset Exchange (PDAX) have signed an agreement to work together in bringing improved cross-border payments to the Philippines, using the transformational power of blockchain technology.

Cross border payments in traditional financial systems are increasingly slow and expensive, requiring a number of intermediary institutions to settle transactions. With an estimated 34 billion USD in remittances arriving into the Philippines each year, Velo Labs and PDAX aim to improve on the current inefficiencies by leveraging Velo Labs' blockchain payment infrastructure. By using this technology, Velo Labs and PDAX will strive to bring secure, near real-time, and low cost payments to both the Philippines cross-border market and end consumers.

"Velo labs is committed to building a decentralized settlement network that empowers individuals and businesses to access financial services using blockchain technology and the work we are doing with PDAX is an extension of our mission" said Mike Kennedy, CEO of Velo Labs. "Together, we can offer the Philippines cross-border market with a much more efficient way to send and receive international payments."

"PDAX recognizes the value that blockchain technology can bring to millions of people in the Philippines who rely on cross-border remittances to send much-needed financial support to their families and loved ones.," said Nichel Gaba, Founder and Chief Executive Officer of PDAX. "Velo Labs has been incredibly valuable in the effort to help bring these new services to market. We look forward to supporting them in enabling greater financial inclusion through similar, innovative technologies."

About PDAX

PDAX is a BSP-licensed exchange where you can trade Bitcoin, Ethereum, and other cryptocurrencies directly using PHP!

Explore Topics

Tokens

75

NFTs

26

DeFi

25

Crypto Basics

14

Metaverse

14

BTC

12

ETH

10

Trading

8

Security

5

Featured Posts

You might also like

PDAXScope learn banner (05-17-2024).png

PDAXScope: May 17 2024

PDAX Photo

PDAX

May 17, 2024

Navigation

PDAX Learn

Crypto, investing, trading, and more.

PDAX Learn © 2024