TOP > Feature > List of Licensed Offshore Cryptocurrency Exchanges from the Philippines CEZA
October 15, 2018 Updated

The Financial Technology Solutions and Offshore Virtual Currency License (FTSOVC) is given to companies that will set up back offices in the economic zone.

Updated October 15, 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 by CEZA 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.

The license allows them 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).

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

Update: This list is from a confirmed press release from CEZA:

Principal License

  • Golden Millenial Quickpay Inc. Ltd.
  • Ultra Precise Investment Ltd.
  • Liannet Technology Ltd.
  • Rare Earth Asia Technologies Corp.
  • Formosa Financial Holdings Ltd.
  • Tanzer Holdings Ltd.
  • Asia Premiere International Ltd.
  • Orient Express Global Ltd.
  • White Ranch Limited Ltd.
  • Dragon Empire Developments Ltd.
  • Galaxy Plus Developments Ltd.
  • Tiger Wheel Ltd.
  • IPE Global Pte. Ltd.
  • Cr8tiv Solutions Management Ltd.
  • Sino-Phil Economic Zone Agency Development and Management Corp.
  • Digifin Technologies Pte. Ltd.
  • Hong Kong Yuen Shing Hong Ltd.

Regular License

  • Cezex Trading Pte. Ltd.
  • Unicorn Venture Investment Limited

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.

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

According to CEZA, 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 Legal Consultant for CEZA Atty. Mike David ensured that the licensees have gone through a very strict security and background checks. There will be routine checks to monitor the activities of the licensees.

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