MANILA, Philippines — Hong Kong-based Asia Premier International Ltd. became the latest in a now long string of companies granted a license to operate blockchain operations at the booming Cagayan Economic Zone and Freeport.

The company, the parent firm of NiuEx Exchange, said it has received its offshore virtual currency exchange license in the Philippines last month.

Cagayan Economic Zone Authority (CEZA) administrator Raul Lambino said “companies that are given the virtual currency exchange license by CEZA are allowed to launch blockchain operations such as cryptocurrency mining, initial token offering and exchanges.

The 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 ecozone, thereby becoming a locator in the zone.

It also 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).

The license obtained by Asia Premier International is playing a crucial role in pushing through the plans of NiuEx Exchange in the global blockchain industry.

As a global blockchain company, the operations of NiuEx Exchange will cover various regions and countries such as Southeast Asia, the United States, Japan and South Korea. NiuEx Exchange is involved in a number of blockchain ecosystem industries, including digital currency mines, digital currency exchanges, blockchain technology support services, blockchain venture capital funding, and is devoted to the research of blockchain technology and training of talents, constantly promoting the development and application of blockchain technology.

https://www.philstar.com/business/2018/10/15/1860010/ceza-grants-license-hk-blockchain-firm