Philippines CEZA Has Already Issued 17 Offshore Cryptocurrency Exchange Licenses

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October 15, 2018. The Cagayan Economic Zone Authority (CEZA) has announced that it has already issued 17 Provisional Principal Offshore Cryptocurrency Exchange Licenses and 2 Provisional Regular Licenses.

FTSOVC Principal License

CEZA issued 17 provisional principal licenses to the following companies, allowing them to conduct offshore financial technology solutions business activities and offshore virtual currency exchange activities:

  • Golden Millenial Quickpay Inc. Ltd.
  • Ultra PreciseĀ 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.

Read More:Ā Philippines CEZA Clarifies: No License For Ploutos Coin

FTSOVC Regular License

2 provisional licenses given to the following companies allow them to conduct virtual currency exchange activities.

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

The entire list can also be found in our article:Ā List of Licensed Offshore Cryptocurrency Exchanges from the Philippines CEZA

CEZA has announced 25 slots for companies interested in setting up shop in the Cagayan Economic Zone. The government agency expects that the facilities will be worth $100 million in 2 years time.

CEZA’s revenue is expected to be around Php 3.6 billion from crypto licenses alone. In fact, data shows that CEZA’s earnings have increased in Q2 2018, more than the agency’s entire 2017 revenue.

CEZA has conducted road shows, including one in Tokyo, Japan to bring fintech companies to the Philippines, particularly to the Cagayan Economic Zone.

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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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