List of Licensed Offshore Cryptocurrency Exchanges from the Philippines CEZA

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Updated on November 2019 to include updated list from CEZA.

  • Updated on June 2019 to add more sub-licensees
  • Updated on May 7, 2019 to include new sub-licensees. As mentioned previously,Ā will no longer create articles on CEZA licensing unless they are of significant importance.
  • Updated March 27, 2019.
  • Updated February 20, 2019.
  • Updated January 18, 2019. We exclusively obtain from the government corporation itself of the updated list of licensees as of January 10, 2018.

The Philippines’ Cagayan Economic Zone Authority (CEZA) has 25 offshore cryptocurrency license up for grabs to companies that seek to set up business in the Cagayan Economic Zone in the Philippines. In this article, we list down the companies that have been awarded with that license.

What is an Offshore Cryptocurrency Exchange License?

The Offshore Cryptocurrency Exchange License, or “Financial Technology Solutions and Offshore Virtual Currency License” (FTSOVC License) is granted to companies which will be allowed to set up back offices of their virtual currency exchange or crypto and blockchain business in the Cagayan Economic Zone, thereby becoming a locator in the zone. This is all in line with the economic zone’s vision of turning Cagayan into a financial technology, blockchain, and crypto hub. The regulator also had other plans, including building a smart city in Fuga Island.

The license allows these foreign investments to run the business in the Philippines but must only service users from outside the country. This license allows the company to do crypto to crypto transactions but does not allow the company to facilitate crypto to fiat transactions as that is a separate license from the Bangko Sentral ng Pilipinas (BSP).

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CEZA is a government-owned corporation establish via the Republic Act 7922 (Special Economic Zone Act) to manage the Cagayan Economic Zone. Its president (Currently Raul Lambino) has the rank of a secretary and Cabinet Official, reporting directly to the president of the Philippines. Economic Zones are special jurisdictions wherein the regulator develops it by creating laws that will aid the zone’s economic development. In addition to the Cagayan Economic Zone, the Philippine Economic Zone Authority is established via the Philippine Economic zone act of 1995. CEZA has offices in Manila, Philippines as well where its licensees can also set up and do admin-related operations.

Read More:Ā CEZA Orders Investigation of Alleged Investment Scam Involving an Offshore Virtual Exchange Licensee

List of Companies with Financial Technology Solutions and Offshore Virtual Currency License in the Philippines’ CEZA

Updated February 20, 2019: Updated List

Principal License

  1. Golden Millenial Quickpay Inc. Ltd.
  2. Ultra PreciseĀ Investment Ltd.
  3. Liannet Technology Ltd.
  4. Rare Earth Asia Technologies Corp.
  5. Formosa Financial Holdings Ltd.
  6. Tanzer Holdings Ltd.
  7. Asia Premiere International Ltd.
  8. Orient Express Global Ltd.
  9. White Ranch Limited Ltd.
  10. Dragon Empire Developments Ltd.
  11. Galaxy Plus Developments Ltd.
  12. Tiger Wheel Ltd.
  13. IPE Global Pte. Ltd.
  14. Cr8tiv Solutions Management Ltd.
  15. Sino-Phil Economic Zone Agency Development and Management Corp.
  16. Digifin Technologies Pte. Ltd.
  17. Hong Kong Yuen Shing Hong Ltd.
  18. First Bullion Holdings Inc
  19. OKCoin Philippines Technology Co. Ltd
  20. 6X Tech Pte Ltd
  21. Increz Korea
  22. Harseq Inc Limited
  23. FAFA Internet Blockchain (China) Co. Ltd
  24. Wangwang Quickpay Foundation Ltd
  25. Alpha Capital Asia Limited
  26. Escudar Co., Ltd.

Regular License – OVCE

(This section is not updated on November 2019)

  1. CezexĀ Trading Pte. Ltd.
  2. Unicorn Venture Investment Limited
  3. A&C Fintech Limited
  4. Zipmex Pte. Ltd.
  5. Bird Mouse Co., Ltd.
  6. Adax Tech Limited
    1. Monetium Co. Ltd.
  7. Bitpoint APEC Investment Corp
  8. HXL (HK) Technology Ltd.
  9. Noah Ark Technologies Ltd.
  10. WTIA Pte. Ltdf

Regular License – Financial Technology Solutions Business

(This section is not updated on November 2019.)

  1. EPlata Pacific Pte. Ltd.
  2. Ecoflow Inc.

List of Companies With Pending License Application

Note: This list is from previous reports about the companies that have signed up agreements to set up in the economic zone. (Updated Feb. 20, 2019 to remove Bird Mouse Co., Ltd. as it has been granted a regular license.)

  • Bitventures Inc.
  • Mbex Inc.
  • Idragon Science Development Corp.
  • Seryna Coin Metrics Inc.
  • Lideres Inc.
  • CX Tech Pte. Ltd.
  • CSM Corporation

List of Non-Licensed Entities

The Cagayan Special Economic Zone and Freeport (csezfp) Regulator clarified on March 21, 2019 that they haveĀ not issuedĀ licenses to the following entities as of yet:

  1. Freedom Traders Club, Ploutos Innovation Corporation, Ploutos Innovation Limited, and Ploutos Coin
  2. Hedger Technology, Ltd.
  3. iDragon Science Development Corporation
  4. TEO Consulting Group. Inc , and ECP+
  5. Grace Exchange Inc. Ltd.

According to the Cagayan Freeport regulator, these licenses are only provisional. The agency will closely monitor these companies to ensure that they are complying with the regulations they set up. In a previous report obtained via local papers such as the Philippine Daily Inquirer, its Legal Consultant Atty. Mike David ensured that the licensees have gone through very strict security and background checks. There will be routine checks to monitor the activities of the licensees.

This article is published on BitPinas: List of Licensed Offshore Cryptocurrency Exchanges from the Philippines CEZA

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Michael Mislos

A business ad graduate from the Pamantasan ng Lungsod ng Maynila, Mike is the website manager of Bitpinas.com. He is responsible for almost every content you see on the site, from topic/news selection to editing of articles. Mike believes correct information about blockchain and cryptocurrency can empower people to make accurate decisions about the industry, which, in turn, should deter bad actors from taking advantage of crypto & blockchain. [Telegram @mikemislos]

Michael Mislos
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