Frenetic Inc. (Frenetic) has selected Blox as its blockchain backbone to strengthen its upcoming cryptocurrency and fintech marketplace for Filipinos. In addition to its innovative technology and applications, Blox has the additional regulatory advantage of being registered in the United States as a Decentralized Autonomous Organization (DAO).
This move will make Frenetic’s future market the first cryptocurrency and fintech platform to leverage the Philippine blockchain, but milestones are of paramount importance to what Filipinos ultimately mean.
Ron Benito, Founder and Chief Executive Officer of Frenetic, said: “This gives Filipinos more confidence to trade.”
Frenetic holds a Virtual Asset Services Provider license from Bangko Sentralng Pilipinas, so these transactions using Blox and its native token BLX are diverse.
Filipinos can exchange Philippine pesos for popular cryptocurrencies, exchange Philippine pesos for foreign fiat currencies, and engage in other fintech transactions. All of these are supported by the BLX blockchain.
Blox runs in the background, so users don’t have to do anything to enjoy the additional security benefits offered by the blockchain. As the underlying infrastructure, Blox automatically and almost instantly processes and validates market transactions, ensuring unprecedented security for all Frenetic stakeholders.
Blox offers Frenetic another major advantage, transparency. Using this blockchain not only makes transactions more secure, but it also makes transactions more transparent through Blox’s Explorer. This feature provides open and publicly accessible logs for all marketplace transactions processed over the blockchain. This is an equally important feature for Filipinos.
Jay Añonuevo, one of Blox’s co-founders, said: “It is important that users can easily look up transactions on the blockchain. Because blockchain is an open book, Filipinos can trade with maximum confidence in the integrity of the system.”
