Company:Satoshi Citadel Industries
| Industry | Financial Technology |
|---|---|
| Founded | 2014 |
| Founders |
|
| Headquarters | Makati, Metro Manila, Philippines |
Area served | Philippines |
| Website | sci |
Satoshi Citadel Industries (SCI Ventures Inc.) is a financial technology startup company building blockchain services and products for the purpose of financial inclusion in the Philippines . It was founded by Filipino entrepreneurs John Bailon, Miguel Cuneta, and Jardine Gerodias in March 2014, and is headquartered in Makati in Metro Manila, Philippines. It is responsible for the establishment of multiple products and services in the Philippine blockchain and bitcoin industry.
History
Satoshi Citadel Industries (SCI) was founded by John Bailon, Miguel Cuneta, and Jardine Gerodias in the first quarter of 2014.
By August 2014, the company developed six bitcoin ventures: Digital payment service provider Bitmarket.ph, which enables Philippine merchants to accept digital payments,[1] Bitcoin Remittance company Rebit.ph, which allows people to remit money to the Philippines using Bitcoin, allowing them to save money on remittances, Bitcoin Faucet/social media service Bitstars.ph, a website that rewards users with Bitcoin for submitting photos, Bitcoin exchange Coinage, the first orderbook exchange in the Philippines,[2] the Philippines' first Bitcoin bills payment service[3] Bills.ninja, and Prepaid Bitcoin stored-value card provider Prepaidbitcoin.ph.
In April 2015, the company successfully acquired Buybitcoin.ph, the first Philippine Bitcoin exchange,[4] and retained Buybitcoin's CEO Sam Kaddoura as its new CFO.[5] One month later, in May 2015, the company announced that healthcare entrepreneur Jose Maristela had invested an additional US$105,000 in SCI as a part of their on-going seed round of funding.[6]
In June 2016, the company announced that it had closed its seed round of funding from Kakao.[7]
In August 2016, the company acquired KEZA, a Silicon Valley based Bitcoin startup that allows users to invest in stock markets using Bitcoin.[8]
In December 2017, the company acquired its Virtual Currency Exchange license from the Bangko Sentral ng Pilipinas (Philippine Central Bank), one of two licenses granted by the government body since releasing BSP Circular no.944 in February 2017, otherwise known as Guidelines for Virtual Currency Exchanges.[9]
In June 2018, the company established Blockchain Space Philippines, a dedicated event venue for the cryptocurrency and blockchain community located in the Makati Central Business District, in a joint-venture with Acceler8 Co-working Space.[10]
In November 2018, the company announced the launch of its newest vertical, SCI Blockchain Technologies, allowing enterprises to use blockchain technology and cryptocurrencies out-of-the-box, white label services for exchanges and wallets, and other services.[11]
In June 2013, the company held a press conference to announce a major investment and strategic partnership with Cebuana Lhuillier, the Philippines' largest non-bank financial institution with 2,500 physical locations and 11 million active users.[12]
References
- ↑ "This startup taps into Bitcoin to offer better payment options for merchants in the Philippines". TechinAsia. Tech in Asia - Asia Tech News for the World. 30 May 2014. http://www.techinasia.com/startup-taps-bitcoin-offer-payment-options-philippine-merchants/.
- ↑ "Coinage.ph: Coinage Launches first PH order-book Bitcoin Exchange". Sun.Star website empowers Philippine communities by providing news and information from the provinces to a national and global audience.. 12 October 2014. http://www.sunstar.com.ph/cebu/business/2014/10/12/coinageph-launches-ph-1st-order-book-bitcoin-exchange-370653.
- ↑ "Pay your bills with bitcoin when in manila". When in Manila - Lifestyle, Travel, Philippine News and Manila Trends. 14 August 2014. http://www.wheninmanila.com/let-a-ninja-pay-your-bills-with-bitcoin-when-in-manila/.
- ↑ "Satoshi Citadel Industries acquires BuyBitcoin". Tech in Asia - Asia Tech News for the World. 13 April 2015. https://www.techinasia.com/satoshi-citadel-industries-acquires-buybitcoin-philippines.
- ↑ "BuyBitcoin.ph: A Philippine Bitcoin exchange arrives". Rappler. 13 January 2014. http://www.rappler.com/technology/news/47845-philippines-bitcoin-exchange.
- ↑ "BPO founder invests $100k in PH fintech startup SCI". News and Intellignce Platform on Doing Business in Southeast Asia. 12 May 2015. http://www.dealstreetasia.com/stories/bpo-founder-invests-100k-in-ph-fintech-startup-sci-6291.
- ↑ "Bitcoin startup Satoshi Citadel gets funding from Kakao’s investment arm". TechinAsia. Tech in Asia - Asia Tech News for the World. 9 June 2016. https://www.techinasia.com/bitcoin-startup-satoshi-citadel-funding-kakaos-investment-arm/.
- ↑ "Satoshi Citadel Industries KEZA acquisition". Tech in Asia - Asia Tech News for the World. 13 April 2015. https://www.techinasia.com/satoshi-citadel-industries-keza-acquisition.
- ↑ "Bitcoin Trade in PH quadruples". inquirer dot net. 14 December 2017. http://business.inquirer.net/242487/bsp-bitcoin-trade-ph-quadruples-sheen-lures-young-pinoys.
- ↑ "Blockchain Space launches in the Philippines to help the industry grow". e27 dot co - connecting you to Asia's Startup ecosystem. 8 June 2018. https://e27.co/blockchain-space-launches-philippines-help-businesses-grow-20180608/.
- ↑ "sci-launches-new-service-for-enterprise-blockchain-solutions-in-the-philippines". Manila Standard Defining The News. 23 November 2018. http://manilastandard.net/spotlight/281252/sci-launches-new-service-for-enterprise-blockchain-solutions-in-the-philippines.html.
- ↑ "Cebuana-Lhuillier-acquires-stake-in-blockchain-fintech-firm-SCI-Ventures". GMA network. 13 June 2019. https://www.gmanetwork.com/news/money/companies/697592/cebuana-lhuillier-acquires-stake-in-fintech-firm-sci-ventures/story/.
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