- Impero and Coinstore have formed a strategic partnership to utilize the blockchain ecosystem of the Authority of the Freeport Area of Bataan (AFAB).
- The partnership aims to help bring businesses to Bataan via the Offshore Digital Asset License for regulated operations.
- AFAB’s role in the collaboration is to provide an enabling environment, streamlined business processes, and audit-based monitoring.
Editing by Nathaniel Cajuday
Aiming to unlock new opportunities in the blockchain and fintech industries in the country, distributed ledger solutions company in the Philippines, IMPERO Consortium Management Corp. (Impero), and Singapore-based cryptocurrency exchange Coinstore Pte. Ltd. (Coinstore) has recently formed a partnership that is set to leverage the established blockchain ecosystem of the Authority of the Freeport Area of Bataan (AFAB).
Through the partnership, “Coinstore is collaborating with Impero to bring more opportunities and connections with ODAL,” James Toh, Global Head of Business Development at the exchange, said in a statement sent to BitPinas via Linkedin.
The Impero x Coinstore Collaboration
In a statement, Impero emphasized that the goals of its partnership with Coinstore include driving regional economic growth, empowering local blockchain practitioners, and delivering tangible benefits to users.
Based in Manila, Impero is a registered corporation under the Securities and Exchange Commission (SEC) and holds a Certificate of Accreditation from the AFAB.
“Through this initiative, businesses can register to obtain an Offshore Digital Asset License (ODAL), offering them a regulated and well-organized community to operate within,” stressed Impero CEO and Founder Emmanuel Samson, who also spoke during the Global Blockchain Summit that happened in Balanga, Bataan, last year.
Accordingly, James Toh, the global head of business development of Coinstore, highlighted their aspiration to become the connecting exchange bridging various Southeast Asian countries and resources, with the aim of fostering mutual growth:
“We want to be the exchange to connect between different Southeast Asian countries, resources, and help each other to grow. Our goal is to facilitate collaboration and development within the region.”
The Role of AFAB
The Authority of the Freeport Area of Bataan is an independent government agency and economic zone situated in the province of Bataan, aiming to stimulate economic development, attract investments, and generate employment opportunities in the region.
With its own governing charter and mandate, AFAB is responsible for overseeing and managing the Freeport Area of Bataan. It offers a range of incentives and advantages to local and international investors, particularly in sectors such as blockchain, fintech, cryptocurrency, AI, and other emerging technologies.
The collaboration between Impero and Cooinstore is said to follow AFAB’s three fundamental pillars: audit-based monitoring, an enabling environment, and streamlined business processes.
A primary objective of the partnership is to establish a strong business model and an effective affiliate marketing strategy that aligns with Impero’s objectives, with an initial focus on the ODAL business within AFAB. Both Impero and Coinstore claim to actively engage with clients and potential partners.
“Over the coming months, the joint venture aims to introduce quality blockchain projects globally under AFAB’s blockchain ecosystem. Coinstore will assist in the assessment and curation of projects based on strict criteria set by Impero,” the entities clarified.
This article is published on BitPinas: Impero Inks Partnership With Coinstore, To Allow Offshore Digital Asset License in Freeport Area of Bataan
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