About PDAX
PDAX (Philippine Digital Asset Exchange) is a cryptocurrency trading platform founded by Nichel Gaba, who serves as its CEO. It has held a Virtual Asset Service Provider (VASP) license from the Bangko Sentral ng Pilipinas since 2018, making it one of the longest-operating regulated crypto exchanges in the country.
Beyond its own trading platform — which supports cryptocurrencies, government-issued bonds, and digital collectibles alongside wallet management and investment education — PDAX also operates as infrastructure for other fintech products: it powers the “GCrypto” crypto-trading feature inside GCash, the Philippines’ largest e-wallet.
PDAX closed a $50 million Series B round led by Tiger Global in February 2022 (following a $12.5 million raise in 2021), bringing its total disclosed funding to roughly $62.5 million.
The Problem They're Solving
Filipinos wanting to buy or trade digital assets needed a trusted, BSP-regulated on-ramp, and other fintech platforms needed compliant, ready-built crypto infrastructure rather than building and licensing their own exchange from scratch.
Who They Serve
Retail cryptocurrency traders and investors in the Philippines, plus fintech partners such as GCash that need licensed crypto trading infrastructure to offer under their own brand.
What Makes Them Different
PDAX is not only a consumer-facing exchange but also the licensed infrastructure layer behind GCash's crypto feature — an infrastructure/B2B2C position that few Philippine crypto exchanges hold, backed by its early (2018) BSP VASP license.
Traction & Milestones
Powers GCash's GCrypto feature; raised a $50 million Series B led by Tiger Global (Feb 2022) on top of a $12.5 million 2021 raise, for roughly $62.5 million in total disclosed funding.
The Founders
Nichel Gaba
Founder & CEO