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In a remarkable ascent through the fintech industry, Mikaela Reyes, CEO and co-founder of Parallax, has secured a place on Forbes Asia’s 30 Under 30 list for 2024. Her path from a freelancer grappling with payment issues to a celebrated entrepreneur is a story of vision, determination, and innovation.
In an interview with Philippine news network PTV, our CEO and co-founder Mika Reyes recounted the origins of Parallax. As a freelancer, she encountered frequent hurdles with international payments—high fees, slow processing times, and numerous inefficiencies. These challenges illuminated a glaring gap in the market, compelling Mikaela to devise a more efficient and cost-effective solution. Thus, Parallax was conceived, aimed at simplifying cross-border payments.
Mikaela’s drive to create Parallax was rooted in a profound desire to aid a community she deeply understands. Her personal experiences with international payment frustrations fueled her ambition to develop a platform that addressed these issues head-on. Utilizing cryptocurrency and blockchain technology, Parallax facilitates seamless global transactions, cutting costs and accelerating processing times.
The road to establishing Parallax was fraught with obstacles. Mikaela faced the daunting tasks of securing funding and maneuvering through various regulatory landscapes. Nevertheless, her relentless determination and innovative approach enabled her to overcome these challenges. By September 2023, Parallax had secured $4.5 million in seed funding from Dragonfly Capital, providing the vital resources needed for expansion and continued innovation.
Parallax is more than a payment platform; it represents financial empowerment. By minimizing transaction fees and ensuring transparent exchange rates, Parallax helps freelancers and small businesses retain more of their earnings. Mikaela’s deep understanding of her user base’s struggles enables her to create solutions that genuinely benefit them.
Mikaela sees a promising future for Parallax. The dynamic nature of fintech offers countless opportunities for growth and innovation. Parallax is committed to staying ahead of industry trends by continuously enhancing its technology and broadening its service reach. Mikaela is confident that Parallax’s adaptability and forward-thinking approach will redefine cross-border payments.
As the fintech landscape evolves, Parallax is poised to leverage new technologies and trends. The integration of blockchain and cryptocurrency has already distinguished Parallax from conventional payment systems. Mikaela plans to explore and incorporate other emerging technologies to further elevate Parallax’s offerings. By remaining at the cutting edge of fintech innovation, Parallax aims to continue delivering exceptional value to its users.
Mikaela Reyes’s journey from freelancer to fintech leader illustrates how personal challenges can spark groundbreaking solutions. Her leadership has propelled Parallax to the forefront of the industry, serving as an inspiration to aspiring entrepreneurs globally.
For more insights into Mikaela Reyes and Parallax, visit GMA News Online and BusinessWorld Online.
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