• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

Satoshi Citadel Industries Acquires BuyBitcoin.ph

Jp Buntinx by Jp Buntinx
7 years ago
in Bitcoin, Bitcoin Businesses, Bitcoin Exchange, Bitcoin Service, Companies, Emerging Markets, News, News teaser, Services, Trending
0
Advertisement

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.

Also read: Palarin Brings a Coinbase-Like Bitcoin Exchange to The Philippines

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

BuyBitcoin.ph: The First Filipino Bitcoin Exchange

Bitcoinist_BuyBitcoin.ph

Since January of 2014, BuyBitcoin.ph has been offering their exchange services to citizens in the Philippines. However, this company is not just a regular online exchange platform — BuyBitcoin.ph served as the country’s first “peso to BTC over-the-counter exchange,” giving customers direct access to buying and selling bitcoins.

BuyBitcoin.ph was originally founded by four like-minded people: Sam Kaddoura, James Florentino, Lasse Birk Olesen and Dan Walton. These entrepreneurs joined forces to bring Bitcoin to one of the countries that could benefit from the technology the most. And because the current money remittance options for Filipinos are ridiculously expensive — with fees running into double digits — having the option to use bitcoin to cheaply convert foreign exchange into local currency will certainly be an invaluable tool. This service will allow BuyBitcoin.ph to position itself to become the primary vehicle for Bitcoin adoption in the Philippines.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Sam Kaddoura told Bitcoinist,

“While adoption is still an obstacle for the Bitcoin technology,the biggest technical roadblock for widespread Bitcoin adoption in the Philippines are the same roadblocks for widespread adoption elsewhere. Our main goal is still to increase awareness and adoption of the technology. By joining SCI, I am confident that we can achieve this.”

By giving Filipinos the option of not just buying and selling Bitcoin as an investment, but also as a way to counter high remittance fees, BuyBitcoin.ph has the potential to become a major player in the Filipino economy. This potential has not gone by unnoticed; Satoshi Citadel Industries recently acquired BuyBitcoin.ph, hoping to capitalize on this opportunity for spreading Bitcoin use.

Satoshi Citadel Industries: Many Bitcoin-related Services

Bitcoinist_Rebit-Logo1

The name Satoshi Citadel Industries [also referenced to as SCI] may not ring a bell for most of our readers, but some of the company’s subsidiaries probably will. Rebit, SCI’s remittance service, made a few headlines in 2014. With Rebit, all it takes to remit funds is filling out a form to indicate the amount of money you want to send and to whom, and choosing a delivery option. This process can anywhere take between a few minutes and 36 hours, depending on personal preference and needs.

BitMarket.ph is another service offered under the SCI umbrella, which acts as a payment processing service for Bitcoin. Bitmarket.ph is a great solution for retailers — both in the online and offline spaces — to accept Bitcoin payments at 0% fees, and have the order amount converted to local currency and paid out the next business day.

Last but not least, there is a service called Coinage, which acts as an order-book exchange. This is not just your average Bitcoin exchange either, as they promise liquidity at all times, backed by a secure and fast server. On top of that, there is only a 1% fee per transaction when using this platform, making it attractive to investors and traders.

John Bailon, CEO of SCI, told Bitcoinist,

“This acquisition brings us closer to our goal of completing the Bitcoin ecosystem in the Philippines. BuyBitcoin.ph is a great first-touch product for consumers, and even more valuable is the addition of great minds in Sam, James, and Lasse.“ Bitocinist_Coinage

And that brings us to what may very well be the most interesting aspect of this acquisition. Sam Kaddoura will join the Satoshi Citadel Industries team as its Chief Financial Officer. With a strong background in corporate finance and banking, Kaddoura will be a valuable asset to bridge the gap between traditional financial infrastructure and Bitcoin in the Philippines.

Furthermore, James Florentino will stay at the helm of BuyBitcoin.ph’s day-to-day operations in his role as Head of Product. Lasse Birk Olesen will be the European relations officer for BuyBitcoin.ph and their European partners. The position of Daniel Walton as CTO and Co-Founder remains unchanged for the time being.

What do you think about this acquisition? Let us know in the comments below!

All images courtesy of Satoshi Citadel Industries and its subsidiary companies

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jp Buntinx

Jp Buntinx

JP Buntinx is a freelance Bitcoin writer and Bitcoin journalist for various digital currency news outlets around the world. In other notes, Jean-Pierre is an active member of the Belgian Bitcoin Association, and occasionally attends various Bitcoin Meetups in Ghent and Brussels

Related Posts

Cryptoqueen

‘Cryptoqueen’ Has A $100,000 Bounty On Her Head Offered By The FBI

1 hour ago
Bitcoin Trading Volume Sinks Down Almost 60% In 9 Days

Bitcoin Trading Volume Sinks Down Almost 60% In 9 Days

17 hours ago
North Korean Hackers

North Korean Hackers Suspected Of Perpetrating $100 Million Harmony Attack

22 hours ago
Oslo Freedom Forum, Fode Diop on stage

3 Lessons From The Oslo Freedom Forum: Why BTC? Nabourema, Likhachevskiy, Diop

1 day ago
National Agency of Prospective Projects (NAPP) In Uzbekistan Green Lights BTC Miners

National Agency of Prospective Projects (NAPP) In Uzbekistan Green Lights BTC Miners

1 day ago
Short bitcoin

ProShares Short ETF Becomes Second-Largest Bitcoin Fund In Record Time

2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.