By: Je Gino-Gino – BitPinas | July 19, 2018

[Confirmed] CEZA will formally issue an offshore crypto exchange license on July 26, 2018 to Liannet Technology Limited, a subsidiary of Apsaras Group.

The Cagayan Economic Zone Authority (CEZA) will reveal a token, CEZA Coin, and will award a new offshore cryptocurrency exchange license in a move to bolster the economic zone’s development.

CEZA will formally issue a Financial Technology Solutions and Offshore Virtual Currency (FTSOVC) license on July 26, 2018 to Liannet Technology Limited, a subsidiary of Apsaras Group.  Liannet Tech will also promote CEZA Coin along with its Digital Currency Exchange project – CZC Digital Exchange.

Bitpinas has confirmed this information from CEZA.

It is reported that CZC Exchange will provide support for startup blockchain team incubation, industrial funds, third-party financial legal services, digital currency market value management, community operations, ICO project operation, and diagnosis.

In addition, the exchange will also strive to partner with other blockchain companies to further develop its services and to create a CEZA Special Economic Zone Financial Technology Center.

CEZA forecasts a Php 3.6 billion earnings from offshore cryptocurrency license issuing. According to CEZA Senior Deputy Administrator, Mr. Raymundo Roquero, it has received a total of 70 applications and 6 of which are now paid in terms of license fees. He added that aside from the Php 3.6 billion earnings from the issuance of licenses, the authority will also have a 0.1% share for every transaction on the registered crypto exchanges.

 

Image via BitPinas