MANILA, PHILIPPINES — PDAX, the leading virtual asset provider in the country, has signed up as the latest brand partner of premiere sports network Cignal TV for the Season 84 of the University Athletics Association of the Philippines (UAAP) Games, which will run until May 2022.
Licensed by the Bangko Sentral ng Pilipinas, PDAX or Philippine Digital Asset Exchange is a platform that enables thousands of Filipinos to safely trade cryptocurrency, a form of virtual currency secured through blockchain technology. PDAX presently has a user base of over 600,000.
With the partnership with Cignal TV, PDAX becomes the first-ever crypto company to support a national sporting event. It rides the wave of the growing popularity and demand for cryptocurrency worldwide. A recent report by Bitcoin showed that the Philippines is the country with the third-highest crypto use in the world, significantly driven by the popularity of play-to-earn games that are popular among young audiences.
By partnering with the network, PDAX aims to increase crypto and financial literacy in the country and bring more Filipinos into the digital economy, while supporting the most prestigious collegiate basketball tournament in the country.
“We are excited to partner with Cignal TV in bringing the UAAP Games for Season 84. We fully support investing in sports development, which is one of the best ways to promote positive values among the youth,” said Nichel Gaba, Founder, and CEO of PDAX.
Sienna Olaso, Cignal TV First Vice President, Head of Channels and Content meanwhile lauded the partnership as another step to promote youth development in the Philippines.
“It’s quite exciting to partner with a company such as PDAX which shares our passion for sports and youth development. Together with PDAX, we hope to engage young Filipinos in the popular sport of basketball and keep them motivated even with the ongoing challenges brought about by the pandemic,” Olaso said. “We also hope to bring financial literacy and innovative digital financial solutions closer to the youth,”.
As a brand partner, PDAX will be featured in in-game premiums and other marketing campaigns of Cignal for the duration of the UAAP Season 84.