Filipinos are under heavy influence of technology, especially the smartphone. It can be related to the fact that Filipinos who reside overseas prefer to use alternative methods rather than traditional bank processing. A major contribution of the Philippines’ Gross Domestic Product (GDP) growth comes from them. With remittances that total to over $13.4 billion, $2.2 billion of which are processed via banks. Everyone can benefit from the latest technologies that can function and provide as an alternative.
Satoshi Citadel Industries (SCI), a new financial technology firm, aims to provide a nurturing environment for the cryptocurrency in the Philippines. Introducing a new mobile application, which authorizes storage of money on smartphones using local currency, SCI can convey money through the use of Bitcoin. This makes all merchants who accept digital payments accessible.
SCI takes control of the first Bitcoin exchange in the country after obtaining it on April 2015. This provides local cryptocurrency users direct entry to buying and selling bitcoins.
Moreover, as part of the top five growing and most promising countries for Bitcoin, it is best to maximize the use of the cryptocurrency from all aspects. Not only will this new technology provide advantages for overseas Filipinos and local business transactions, it will also benefit the online gambling industry in the Philippines.
Legality of gambling in the Philippines
Created to be under direct supervision of the government, Philippine Amusement and Gaming Corporation (PAGCOR) regulates casino gaming in the Philippines. This corporation solely holds control of its own land-based casinos and regulates privately owned casinos in the country.
No laws in the Philippines prohibit participation in online gambling sites, thereby making the activity legal. In fact, online gambling jurisdictions in the country, such as First Cagayan, acts as a master licensor and regulator for legal conduction and authorization of such websites.
Together with OLE Bitcoin, EastBridge is another example of a reliable betting brokerage service provider under the First Cagayan brand. This is perfect since the increasing demand for Bitcoin sports betting expands overseas.
Gambling corporations under PAGCOR are the largest revenue contributors to the government. This makes Bitcoin the ideal technology to drive more income, and encourage more bettors to play with its numerous advantages over the traditional currency popular in the country.
Bitcoin gambling websites such as Betcoin Casino, Satoshibet, and Anonymous Casino are some of the names that can provide Filipino bettors with fulfillment through the top-quality Bitcoin games, together with rewards and bonuses that add to the excitement of online gambling.
Breathing room for Bitcoin bettors
When SCI acquired BuyBitcoin.ph and initiated the new Bitcoin specific mobile application, it unlocked new opportunities to local Bitcoin users. A trustworthy service that offers easier and faster purchase of bitcoins, helping the name and uses of the digital currency reach every corner of the country.
Consequently, this proves as an excellent start for all Filipino bettors looking to get more cryptocurrency exposure on the online gambling scene. Bitcoin gambling operators who wish to start a new venture in Asian gambling can also take part in the efforts to promote Bitcoin gambling in Asia.