Sec. Raul L. Lambino (3rd from the right), Administrator and CEO of the Cagayan Economic Zone Authority (CEZA), handed over to Mr. Shaoxing Cai (2nd from the right), Chairman of Hong Kong Yuen Shing Hong Limited, the latter company’s CEZA financial technology solutions and offshore virtual currency exchange (FTSOVCE) principal license on November 26, 2018 at the CEZA Mandaluyong Office. Also with them were (from left to right) Mr. Scott Cai, HK Yuen Shing Hong Limited Director; Dr. Alex Fu Kong Sang, HK Yuen Shing Hong Limited Executive Chairman And COO; and Mr. Lito Jimenez, CEZA Consultant.
Hong Kong-based HK Yuen Shing Hong Limited is the seventeenth recipient of an FTSOVCE principal license from CEZA. The license allows Yuen Shing to set up an offshore fintech and cryptocurrency trading operating outside the country. To date, twenty FTSOVCE licenses have already been issued by CEZA.