Tag: Cagayan Economic Zone Authority (CEZA)

Three Crypto Exchanges Receive License to Operate from CEZA

Three Crypto Exchanges Receive License to Operate from CEZA

  The Cagayan Economic Zone Authority (CEZA) of the Philippines recently issued provisional licenses to three cryptocurrency exchanges operating in the economic zone.   The Manila Times said that CEZA expects to attract $3 million in investment following the issuance.   The government had previously announced that 10 blockchain and cryptocurrency companies will be allowed to operate in the economic zone to generate jobs and stimulate the economy. The companies are required to contribute $1 million upward over two years and pay up to $100,000 in licence fees.   It was also mentioned that 70 companies have already applied to […]

21 Fintechs Set to Bring Fresh Investments Into CEZA

21 Fintechs Set to Bring Fresh Investments Into CEZA

CEZA Administrator Raul L. Lambino revealed this week that 21 fintech firms are expected to invest around Php 2 billion in the freeport within the next two years. The Secretary said that the startups, which are mainly engaged in blockchain and cryptocurrency operations, will be committing 1 million each for infrastructure, aside from application fees, license fees, probity checks and integration fees. Lambino said that the 54,000 hectare CSEZFP is being poised to be a new Asian hub which will combine the best of nature and of cutting-edge technology for the world’s leaders in the burgeoning global currency of the […]

Philippines Allows Blockchain, Crypto Companies to Set Up in Special Economic Zone

Philippines Allows Blockchain, Crypto Companies to Set Up in Special Economic Zone

Cagayan Economic Zone Authority (CEZA) chief Raul Lambino confirmed earlier this week that the Philippine government will be allowing 10 blockchain and cryptocurrency businesses to operate in the area. Lambino further revealed that these companies, mostly run by Japanese, Koreans, Malaysians and Hong Kong nationals, can go into exchanges, ICOs or cryptocurrency mining legally within the new fintech hub established by the state-owned corporation. However, Lambino stressed that crypto-to-fiat and vice versa exchange transactions should only be done offshore to avoid violating Philippine laws. Source: Coin Telegraph