Satoshi Citadel Industries acquires BuyBitcoin.ph

BuyBitcoin.ph, a Philippine-based bitcoin exchange, has been acquired by Satoshi Citadel Industries (SCI) in its effort to widen its reach in the local market. Satoshi, a fintech start-up company, hopes to develop solutions to reduce the costs of using and transferring money and digital currency in the Philippine market.

BuyBitcoin.ph CEO Sam Kaddouram said the Filipino market is confronted with similar roadblocks for bitcoin adoption as in other places in the world but he believes that their company's partnership with SCI can help close the loop. 

"Our main goal is still to increase awareness and adoption of the technology," Kaddoura said.