Soon-to-launch cryptocurrency marketplace and regulated Virtual Asset Services Provider (VASP) license holder Frenetic has tapped BLOX as its blockchain backbone as it prepares to launch to customers in the Philippines.
BLOX is a decentralized, autonomous organization (DAO) that utilizes BLX as its token, and is currently registered in the US as a DAO.
“Since BLOX provides a blockchain – an immutable digital ledger – and the organization itself is a US-registered DAO, the additional security it will bring to our marketplace is immeasurable. Now Filipinos will be able to transact with more confidence than ever before,” said Ron Benito, the founder, and CEO of Frenetic.
Filipinos will be able to exchange the Philippine Peso for popular cryptocurrencies, trade the Philippine Peso for foreign fiat currencies and vice versa, and engage in other fintech transactions – all backed by the BLX blockchain.
Since BLOX will operate in the background, users will not need to do anything to enjoy the additional security benefits offered by the blockchain. As the underlying infrastructure, BLOX will
process and verify marketplace transactions on an automatic and near-instantaneous basis, ensuring unprecedented security to all of Frenetic’s stakeholders.