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CEZA granted OVCE license to WTIA | Cagayan Economic Zone Authority

CEZA granted OVCE license to WTIA

CEZA granted OVCE license to WTIA

The Cagayan Economic Zone Authority (CEZA) recently awarded the World Token Issuing Alliance (WTIA) with an Offshore Virtual Currency Exchange (OVCE) Provision Regular License which enable to help WTIA to launch its exchange service platform.The WTIA is the advisory and capital market solution of some of the biggest real-world blockchain projects in the world. 

It works with some of the world’s largest blockchain and asset tokenization projects and responsible for bringing as Monopoly Hotels and Resorts (MHR), Smart City Company (SCC), and many more. CEZA Administrator and CEO Raul L. Lambino said that it is one of the firms to respond to the invitation of CEZA to invest in the authority and be part of the offshore virtual currency exchange business.

(CEZA Administrator and CEO Sec. Raul L. Lambino (5th from left) and offcials of the WTIA  led by its Chairman Keunyoung Kim (4th from left) shows the OVCE license granted to them.)

The Cagayan Economic Zone Authority (CEZA) recently awarded the World Token Issuing Alliance (WTIA) with an Offshore Virtual Currency Exchange (OVCE) Provisional Regular License which enable WTIA to launch its exchange service platform.

The WTIA is the advisory and capital market solution of some of the biggest real-world blockchain projects in the world. 

It works with some of the world’s largest blockchain and asset tokenization projects and responsible for bringing as Monopoly Hotels and Resorts (MHR), Smart City Company (SCC), and many more. 

CEZA Administrator and CEO Raul Lambino said that it is one of the firms to respond to the invitation of CEZA to invest in the authority and be part of the offshore virtual currency exchange business. 

“Thank you so much for coming over, and be part of our over-all build program. We need very serious investors here like WTIA. On behalf of CEZA, we can assure you of our support,” Lambino said. 

During the granting of license, Lambino disclosed some of the priority projects of CEZA to WTIA and encourage them to participate in the realization of the said project. 

“One of the priority projects that it is now in the pipeline is the North East Luzon Expressway, which will connect the provinces of Nueva Ecija, Nueva Vizcaya, Isabela and Cagayan. Because the expressway now from Manila has reached over in to Pangasinan and La Union,” Lambino said.

“It would be nice if you would be part of this Build Build projects of the President. I can assure you that there is no red tape in this office,” Lambino told WTIA speakers, adding that they run the CEZA like a private company.

WTIA Chairman Keunyoung Kim said,” We are supporting real projects that have a positive impact on the community and country. Projects that deliver economic growth, create high value jobs, and can benefit from blockchain technology’s transparency, trust and security.” 

“The good thing is, CEZA has very nice projects that will improve the lives of Filipinos, and for that, we were so impressed,” WTIA told reporters during a press conference held at one of the hotels in Pasig City. 

The move of getting a license from CEZA is the major step forward for WTIA as they prepare to launch their fully regulated security token exchange platform to increase liquidity for their projects.

With the grant of the new OVCE license, it will allow the WTIA to offer security, utility, and virtual currency tokens, covering the broad spectrum of token offerings required as the portfolio of projects under WTIA expands. 

Because of the increasing popularity of blockchain and its growing ecosystem of tokens, liquidity ensures fair pricing for projects through market dynamics and allows users to invest in the success of projects that they support.

“We are very excited to receive this important license from CEZA. WTIA will be able to help our projects develop tokenization models based on asset digitalization, solving many off the problems and bottlenecks in the current marketplace. Through WTIA and blockchain technology, we can bring real projects to fruition, creating economic prosperity and jobs for all,” said Kaycee Kim, CEO of WTIA.

WTIA has experts with in-depth experience in building traditional businesses, working with experts within the blockchain industry to bring together the best of both worlds.

As the firm focus on asset-backed mineral resources and real state, WTIA brings together an eco-system of investors, technology providers, developers and operators that will turn business ideas profitable, and deliver viable, usable solutions for government.  

In addition, WTIA projects include sovereign-level tokenization programs, utility-token driven business models for listed companies, tokenized infrastructure securities, high technology applications among others. 

by: (JOSEPH MUEGO)