Asia Digest: BitMEX Ventures backs PH crypto exchange, Australia’s Notiv raises funding

Photo by Andre Francois on Unsplash

Seychelles-based BitMEX Ventures has made an unspecified investment in Philippine Digital Asset Exchange (PDAX), while Australian startup Notiv has raised funding from several investors.

BitMEX Ventures backs Philippines-based cryptocurrency exchange 

BitMEX Ventures, the investment arm of Seychelles-based HDR Global Trading, on Monday announced an unspecified investment in Philippine Digital Asset Exchange (PDAX), a cryptocurrency exchange based in the Philippines.

BitMEX said in a statement that the investment will help strengthen PDAX’s exchange platform to create a marketplace for all kinds of digital assets.

PDAX, which is licensed by the country’s central bank, will also enable the trading of commodities, real estate equities, and debt securities in token form.

PDAX co-founder and chief executive Nichel Gaba said that the current financial infrastructure in the Philippines limits people’s access to financial products and services. By using blockchain technology and digital assets, the company expects to create an even playing field in the digital financial market.

Australian startup Notiv secures funding

Brisbane-based Notiv has raised A$1.4 million (just over $973,00) in funding from several investors including Transition Level Investments, Full Circle VC and Black Sheep Capital, the company said in a statement.

An AI-enabled startup providing recording and transcription services, Notiv was established by Australian tech veterans Chris Raethke, who previously co-founded Bugcrowd, and Dr Iain McCowan, whose startup Dev-Audio was acquired by Biamp Systems.

Notiv claims that it has already been used in over 1500 meetings across more than 60 companies in Australia and the US. It says its clients range from freelancers and small professional services firms through to international technology companies and top tier consulting firms.

With a growing international customer base, the funding will be used to scale the Notiv solution and expand the team in both Australia and the US, the firm said in a statement.