Satoshi Citadel Industries

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Satoshi Citadel Industries

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.

Description[edit]

Product Profile: Satoshi Citadel Industries

Satoshi Citadel Industries is a financial technology company building the Blockchain ecosystem in the Philippines. SCI has developed products across several financial services including Remittance, Payment Processing, Investments, and Mobile Money[1].

Satoshi Citadel Industries (SCI) was founded by John Bailon, Miguel Cuneta, and Jardine Gerodias in the first quarter of 2014. The founders identified a need for alternative mobile payment solutions due to lack of existing infrastructure in the Philippines, and decided to use blockchain technology, specifically Bitcoin, as a platform for their services. Satoshi Citadel Industries.In May 2017, Satoshi Citadel Industries supported XRP Services in remittance and mobile money services[2].

Jo Marie arrow, Filipino entrepreneur in the field of health, invested$ 100,000 Satoshi Citadel Industries (SCI) and encouraged other entrepreneurs who are engaged in traditional business, to follow his example. SCI will become a consortium that will include seven local companies. Among them is the rabbit money transfer service.ph, Betmarket.ph, which is engaged in accepting payment in Bitcoin, and recently acquired exchange Bitcoin BuyBitcoin.Ph. The objective of Satoshi CitadelIndustries is to promote Bitcoin In the Philippines, and to create solutions that more fully realize the potential of technology. Maristella said he was confident of the success of the enterprise. Maristella developed his own company PediaHealt most of his life

Management Team[edit]

The management team consists of John Bailon (Chief Executive Officer), Miguel Cuneta (Chief Community Officer), Sam Kaddoura (Director of Trading), Erica Valerio (Chief Business Development Officer), Eric Su (Chief of Product), Mikal Rallonza (Chief Operations Officer), Randyll Caniaberal (Chief Financial Officer), and Rafael Padilla (Head of Legal and Compliance)[3].

Growth and Expansion[edit]

2014[edit]

By August 2014, the company developed six bitcoin ventures: Digital payment service provider Bitmarket.ph, which enables Philippine merchants to accept digital payments, 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.ph, the first enterprise-grade orderbook exchange in the Philippines, the Philippines' first Bitcoin bills payment service Bills.ninja, and Prepaid Bitcoin stored value card provider Prepaidbitcoin.ph.

2015[edit]

In April 2015, the company successfully acquired Buybitcoin.ph, the first Philippine Bitcoin exchange, and retained Buybitcoin's CEO Sam Kaddoura as its new CFO. 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. By June 2015, SCI had consolidated their verticals into four key products: Rebit.ph, Bitmarket.ph, BuyBitcoin.ph, and Bitbit.cash. "Bitbit" is a mobile money cryptocurrency wallet powered by Bitcoin technology, which connects consumers to the Bitcoin network through an iOS or Android app.

2016[edit]

In June 2016, the company announced that it had closed its seed round of funding with a major investment from K Venture Group, the venture capital arm of Kakao, South Korea's largest mobile chat app company with 100 million users.

In August 2016, the company successfully acquired KEZA, a Silicon Valley based Bitcoin startup that allows users to invest in stock markets using Bitcoin.

External links[edit]

See Also on BitcoinWiki[edit]

References[edit]

  1. Bitcoin boost for emerging nations as Philippines startup acquires US-based Keza - TechAsia
  2. 'Philippine startup Satoshi Citadel Industries acquires BuyBitcoin.ph
  3. Satoshi Citadel Industries — Miguel Cuneta, Co-Founder — Bitcoin Platform For Remittance Payments To The Philippines