Moneybees CEO Jay Ricky Villarante expects an uptick in physical trades as an impact of the U.S. SEC approval of exchange-traded funds.

23 January 2024 – Manila, Philippines – Moneybees, a leading virtual asset service provider, has expanded its over-the-counter (OTC) cryptocurrency exchange service with its latest collaboration with the newly-opened JK BitcoinHub, a new venture managed and operated by PSulit Money Changer and located in the bustling Molito Commercial Complex of Alabang, Muntinlupa City.

“The opening of JK BitcoinHub, operated and managed by PSulit, will help increase access to crypto markets. Working with PSulit Money Changer, one of the most trusted money exchange companies in the Philippines, demonstrates our dedication to providing greater accessibility and convenience to our consumers while embracing the developing world of digital assets and financial technologies,” Moneybees Chairman and CEO Jay Ricky Villarante stated.

This latest development with JK BitcoinHub in Molito, Alabang, is an addition to the existing network of crypto service hubs that Moneybees has established in partnership with PSulit Money Changer.  These include strategic locations in Intrepid Plaza in Quezon City and Alphaland Southgate Mall in Makati City.

Moneybees and PSulit Money Changer strive to address individualized needs and preferences through a customer-centric approach to provide traders with convenient buying and selling of cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and USD Tether (USDT), among others. In addition, PSulit Money Changer provides bills payment services, lottery cards, and foreign exchange trading.

Jennalyn H. Villarante, owner of PSulit Money Changer, stated, “As the world becomes increasingly digital, PSulit Money Changer must adapt to meet the needs of our customers. By offering cryptocurrency exchange services, PSulit Money Changer can tap into a growing market and provide its customers with a convenient and modern solution, especially with global digital asset developments. Moreover, housing Moneybees services with PSulit ensures that customers can trust the legitimacy and security of their transactions.”

Meanwhile, the recent approval of spot exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission has increased optimism in the crypto community. With this, Villarante anticipates a heightened demand for reputable crypto exchanges as local traders seek trustworthy and in-person transactions.

“Regulatory developments, such as the United States, can impact the global crypto industry. This includes the Philippines, potentially boosting liquidity and attracting larger transactions while ensuring compliance with local regulations. Institutional investors seeking portfolio diversification may turn to OTC services for significant cryptocurrency transactions,” Villarante shared.

Moneybees’ expansion through partnerships with Bangko Sentral ng Pilipinas-Supervised Financial Institutions aims to create a more inclusive and user-friendly environment, fostering overall growth and credibility in the cryptocurrency market for crypto enthusiasts and newcomers.

For more information about Moneybees and their initiatives in facilitating seamless cryptocurrency exchanges for Filipinos, visit https://www.moneybees.ph/.