Satoshi Citadel Industries

Satoshi Citadel Industries
Industry Financial Technology
Founded 2014
Founders
  • John Bailon
  • Miguel Cuneta
  • Jardine Gerodias
Headquarters Makati, Metro Manila, Philippines
Area served
Philippines
Website Official website

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. In May 2017, Satoshi Citadel Industries supported XRP Services in remittance and mobile money services.[1]

Growth and Expansion

2014

By August 2014, the company developed six bitcoin ventures: Digital payment service provider Bitmarket.ph, which enables Philippine merchants to accept digital payments,[2] Bitcoin Remittance company Rebit.ph, which allows people to remit money to the Philippines using Bitcoin, allowing them to save money on remittances,[3] Bitcoin Faucet/social media service Bitstars.ph, a website that rewards users with Bitcoin for submitting photos [4] Bitcoin exchange Coinage, the first orderbook exchange in the Philippines,[5] the Philippines' first Bitcoin bills payment service[6] Bills.ninja, and Prepaid Bitcoin stored value card provider Prepaidbitcoin.ph.

2015

In April 2015, the company successfully acquired[7] Buybitcoin.ph, the first Philippine Bitcoin exchange, and retained Buybitcoin's CEO Sam Kaddoura as its new CFO.[8] 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.[9]

2016

In June 2016, the company announced that it had closed its seed round of funding from Kakao.[10]

In August 2016, the company acquired[11] KEZA, a Silicon Valley based Bitcoin startup that allows users to invest in stock markets using Bitcoin.

2017

In December of 2017, the company acquired[12] 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 of 2017, otherwise known as Guidelines for Virtual Currency Exchanges.

2018

In June of 2018, the company established[13] Blockchain Space Philippines, a dedicated event venue for the cryptocurrency and blockchain community located in the heart of the Makati Central Business District, in a joint-venture with Acceler8 Co-working Space.

References

  1. "Satoshi Citadel Industries Will Integrate XRP In Remittance And Mobile Money Services". Bitcoin Network, News, Charts, Guides & Analysis. 2017-05-26. Retrieved 2017-10-09.
  2. "This startup taps into Bitcoin to offer better payment options for merchants in the Philippines". Tech in Asia - Asia Tech News for the World. TechinAsia. 30 May 2014.
  3. "Uniting separated families with "rebittances": Interview with Filipino company Satoshi Citadel Industries". Cointelegraph - Live cryptocurrency news and opinions. 17 November 2014.
  4. "Bitstars.ph 'Selfie' Contests Reward Winners with Bitcoin". CoinDesk is the world leader in news, prices and information on bitcoin and other digital currencies. 31 July 2014.
  5. "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.
  6. "Pay your bills with bitcoin when in manila". When in Manila - Lifestyle, Travel, Philippine News and Manila Trends. 14 August 2014.
  7. "Satoshi Citadel Industries acquires BuyBitcoin". Tech in Asia - Asia Tech News for the World. 13 April 2015.
  8. "BuyBitcoin.ph: A Philippine Bitcoin exchange arrives". Rappler. 13 January 2014.
  9. "BPO founder invests $100k in PH fintech startup SCI". News and Intellignce Platform on Doing Business in Southeast Asia. 12 May 2015.
  10. "Bitcoin startup Satoshi Citadel gets funding from Kakao's investment arm". Tech in Asia - Asia Tech News for the World. TechinAsia. 9 June 2016.
  11. "Satoshi Citadel Industries KEZA acquisition". Tech in Asia - Asia Tech News for the World. 13 April 2015.
  12. "Bitcoin Trade in PH quadruples". inquirer dot net. 14 December 2017.
  13. "Blockchain Space launches in the Philippines to help the industry grow". e27 dot co - connecting you to Asia's Startup ecosystem. 8 June 2018.
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