Philippine Bitcoin Exchange BuyBitcoin.ph Acquired by SCI
Satoshi Citadel Industries (SCI) made an acquisition of the Philippine bitcoin exchange BuyBitcoin.ph in its effort to broaden its reach in the local market. The company, which is a fintech startup firm, seeks to create solutions that reduce the costs of using and transferring money and cryptocurrency in the Philippine market. The Philippines is the third largest remittance market in the world, making it a massive hub for money transfers and bitcoin exchange services. According to BuyBitcoin.ph CEO Sam Kaddoura, the Filipino market is facing the same roadblocks for bitcoin acceptance as in....
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Universal Bitcoin service provider, Satoshi Citadel Industries (SCI), has acquired over-the-counter bitcoin transaction service, BuyBitcoin.ph for an undisclosed amount. "The biggest technical roadblock for widespread Bitcoin adoption in the Philippines are the same roadblocks for widespread adoption elsewhere," said BuyBitcoin.ph co-founder and CEO Sam Kaddoura. "Our main goal is still to increase awareness and adoption of the technology. By joining SCI, I am confident that we can achieve this. BuyBitcoin.ph will now join the numerous brands under the Satoshi Citadel Industries umbrella.....
A new bitcoin exchange, BuyBitcoin.ph, has officially launched in the Philippines. Unlike many other exchanges popping up around the world, it is not headed by a couple of anonymous coders working out of a garage. BuyBitcoin.ph, co-founded by four bitcoin enthusiasts from all corners of the globe, doesn't want to be 'just another exchange'. It appears the company is pinning its hopes on remittances, which makes a lot of sense. There are an estimated 2.2 million Filipino expats around the world, and last year they sent over $13.9bn back home. This is obviously a huge untapped market. Where....
Bitcoin enables users to do a multitude of things, one of which is remitting money overseas quickly and at a low cost. This capability is why Bitcoin currently has the most potential in emerging markets, where impoverished and unbanked people rely heavily on remittances from family members in other countries. BuyBitcoin.ph, a Bitcoin exchange platform for citizens in the Philippines, hopes to take advantage of this potential. BuyBitcoin.ph: The First Filipino Bitcoin Exchange. Since January of 2014, BuyBitcoin.ph has been offering their exchange services to citizens in the Philippines.....
Joe Maristela, a healthcare entrepreneur, has invested $100,000 in Satoshi Citadel Industries (SCI) and has challenged other traditional business owners to follow him by investing in Philippine technologies. SCI is an umbrella firm for seven Philippine bitcoin companies, including Rebit.ph, a remittance service, Bitmarket.ph, a bitcoin payment processor, and the recently-acquired BuyBitcoin.ph, a bitcoin exchange. SCI's mission is to increase bitcoin adoption in the Philippines through the creation of solutions that realize the full potential of bitcoin technology. Believing in a mission.....
Philippine crypto exchange Pdax recently suffered a costly technical failure – one that led to bitcoin trading at 300,000 Philippine pesos (around $6,000) – a discount of 88% to its current price. In the melee, some users managed to buy at these ridiculously low prices and quickly moved the bitcoin (BTC) away from their exchange wallets before the error was detected, local news outlet Bitpinas reported. The actual amount of BTC hoarded at the $6,000 give-away price is not clear. However, the Philippine Digital Asset Exchange, or Pdax, is now demanding that users return the....