Paytaca bags P24.5M in seed funding for widespread bitcoin cash payment adoption
Summary
Founded by Dr. Joemar Taganna (chief executive officer), Aaron JP Almadro (marketing director), and Michael Machica (chief finance officer), the pioneering startup in the cryptocurrency industry has made waves in the market by offering a single cryptocurrency-focused approach instead of adopting multiple cryptocurrencies like many of its competitors. "Our vision at Paytaca is to create a payment ecosystem that not only empowers individual financial freedom through usage of crypto but also translates its advantages into tangible cost savings for users. With Bitcoin Cash (BCH) at the core of our wallet super app, we are delivering incentives that encourage broader adoption," said Taganna on Friday, July 21, 2023.According to the company, the new seed funding was backed by "esteemed angel investors" from the cryptocurrency space led by Molecular, Mike Komaransky, Renegade D, and Toorik. "The injection of funds will accelerate the development and rollout of critical features, expand Paytacas user base, and establish a robust merchant network, starting in the Philippines and other regions that are considered hotspots of BCH adoption," Taganna said. "Paytacas commitment to making the benefits of cryptocurrencies accessible and affordable aligns perfectly with our investment philosophy.