Disclaimer: This article is for informational purposes only and does not constitute financial advice. BitPinas has no commercial relationship with any mentioned entity unless otherwise stated.
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Czarina Foreign Exchange Corporation has partnered with Moneybees to allow its customers over-the-counter (OTC) cryptocurrency buy and sell trading at its selected branches, the locally licensed Virtual Asset Service Provider (VASP) announced.
Moneybees x Czarina
In a media statement sent to BitPinas, Moneybees said that the partnership is expected to offer compliant and convenient crypto trading services because of its license from the Bangko Sentral ng Pilipinas and the experience of Czarina in the forex industry.
“Czarina’s strong reputation in foreign exchange, paired with Moneybees’ BSP-registered crypto solutions, creates a trusted environment where customers can confidently explore digital assets. Together, we’re bringing convenience, security, and innovation closer to everyday users.”
Jay Ricky Villarante, Chairman and President, Moneybees
Initially, four branches of Czarina will offer OTC crypto trading: Glorietta in Makati City, Uptown Mall in Bonifacio Global City, Unimart Pasig, and Picasso Makati.
Alongside this, Czarina also offers foreign exchange, inward remittances from Hong Kong, Western Union, Telex services, and Palawan remittance services, which, as per Moneybees, compliments the OTC crypto trading option.
Future Plans
According to the involved entities, there are plans to offer the same initiative to more Czarina branches in the future.
Consequently, they expressed their commitment to help Filipinos who want to have face-to-face transactions in terms of financial services. Thus, expansion plans are present to meet future customer demand.
“This entails that traditional forex will be mixed with cryptocurrency to create a hub that will service the old market and the new.
Co-branding with Moneybees allows us to trade traditional currencies and cryptocurrencies so that old customers of Czarina would trust the new player. This also enables Czarina to access a pool of cryptocurrencies that it can sell directly to customers.”
Mio Ong Nuguid, Spokesperson, Czarina Foreign Exchange
OTC Crypto Trading Services in PH
In early 2024, Moneybees inked a partnership with JK BitcoinHub, a new venture managed and operated by PSulit Money Changer. It opened a third OTC crypto exchange service in the Molito Commercial Complex of Alabang, Muntinlupa City.
Worth Reading: Moneybees, PSulit Money Changer Open Third OTC Crypto Trading Hub
In addition, the VASP had a strategic partnership with pawnshop conglomerate Tambunting Kahera ng Bayan branches.
Worth Reading: Moneybees, Tambunting Bring Crypto To 97 Pawnshop Branches Nationwide
This article is published on BitPinas: Moneybees to Bring OTC Crypto Trading 45-Year-Old Czarina Local Forex Company
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