Moneybees and PSulit Expand Physical Crypto Access with JK BitcoinHub Launchby Fintech News Philippines January 23, 2024
Virtual asset service provider Moneybees has broadened the physical availability of its cryptocurrency exchange offerings in a collaboration with PSulit Money Changer, with the inauguration of JK BitcoinHub at Molito Commercial Complex in Alabang, Muntinlupa City. This move forms part of a larger strategy to enhance accessibility to the cryptocurrency market in the Philippines.
Jay Ricky Villarante, Chairman and CEO of Moneybees, remarked on the significance of this partnership. He stated,
“The opening of JK BitcoinHub, operated and managed by PSulit, will help increase access to crypto markets. Our collaboration with PSulit Money Changer, a highly regarded entity in the Philippine money exchange industry, underscores our commitment to providing greater accessibility and convenience for our consumers, in tandem with the evolving landscape of digital assets and financial technologies.”
This new JK BitcoinHub venture with PSulit in Molito, Alabang, supplements the growing network of Moneybees cryptocurrency service hubs that are already located in Quezon City and Makati City. Aimed at catering to the specific needs of traders, the partnership facilitates the purchase and sale of various cryptocurrencies, including Bitcoin, Ethereum, and USD Tether. Additionally, PSulit Money Changer provides an array of services encompassing bills payment, lottery cards, and foreign exchange trading.
Jennalyn H. Villarante, proprietor of PSulit Money Changer, commented on the transition towards digital offerings. She said,
“Offering cryptocurrency exchange services allows PSulit Money Changer to engage with a burgeoning market, providing our customers with a convenient and contemporary solution, especially given the ongoing developments in global digital assets.”
The crypto community has recently been bolstered by the US Securities and Exchange Commission’s approval of spot exchange-traded funds (ETFs), a development anticipated to increase the demand for trustworthy crypto exchanges. Jay expects this to positively influence the global crypto industry, including the Philippines, by potentially enhancing liquidity and attracting larger transactions, while aligning with local regulatory requirements.