Ceza issues first license for fintech

Sta. Ana, Cagayan-Golden Millennium Quickpay Inc. Limited became Wednesday the first recipient of a business license in the Philippines as one of the locators of the Economic Zone Authority. Cagayan here.

In just nine weeks after its announcement of becoming a paradise for financial technologies, Ceza, led by its managing secretary and chief executive officer, Raul L. Lambino, granted his first license to GMQ, the world's largest and most trusted company. one of the 80 fintech locators that applied with the ecozone.

Ceza was licensed for financial technology and virtual currency at the GMQ Global Blockchain Summit at the Sofitel Philippine Plaza Hotel in Pasay City.

About 100 Chinese blockchain and cryptocurrency Related companies, industry experts, and government and private sector business partners joined the summit.

Among the fintech firms engaged in cryptocurrency and other digital financial services, GMQ is the first FTSOVC licensee in Ceza. Hong Kong is one of the first companies to respond to Ceza's invitation to invest in the ecozone, to be part of the pioneer of FinTech finance and virtual currency trading. offshore and to the goal is to stimulate the economic development of the Special Economic Zone of Cagayan and Freeport

. Earlier, Lambino said the agency will issue licenses initially to only 25 exchanges that applied as locators with Ceza

Each of the cryptocurrency exchanges, he said, was to invest a million US $ (more than $ 53 million) to pay in two years.

Ceza's efforts to push the Philippines Silicon Valley of Asia has attracted a lot of attention, as evidenced by the holding of a series of blockchain summits with the involvement of l & # 39; authority.

Lambino, in one of the first events dubbed the Global Blockchain Summit and inaugural Blockchain Application Exhibition On June 24 also in Pasay City, expressed confidence on the economic impact of emerging technology in the Philippines and its citizens.

"In fact we are going to make money because we are going In his summit speech on Tuesday, he said that he was honored to join in the event that marked the Official Launch of Cryptocurrency Exchange and GMQ Business Fintech Solutions

"GMQ is a pioneer in Ceza's venture to establish a financial technology business and business." virtual exchange of currencies, which will form the core of the Ceza Fintech Hub ", said Lambino.

Ray Roquero, administrator Ceza, revealed that GMQ was the first to receive the license from the authority. two other financial technology companies – Ultra Precise Investments Ltd. of Bangkok, Thailand, and Liannet Technology Limited of Hong Kong – also received their FTSOVC licenses.

Roquero stated that the licenses issued for the first three exchanges are not than "provisional" and that they will be Ceza closely followed

From Ceza, the exchanges already signed with Ceza included Xin Peng Group, Changwei International. Co., Ltd., State Trust Capital Holdings Union, Ultra Precise Investments Ltd., Hachiman Technology Sdn. Bhd., MX Ventures Exchange, Hybrid Block, IPE Global Pte. Ltd., Superior Tech. Pte. Ltd., Coin Group, Northern Orient Resources, Inc .;

Asia Premier International Ltd., Hong Kong Yuen Shing Hong Ltd., Mobile Pole Position Pte. Ltd., Strategic Investment Company Madison Blockchain Ltd., GMQ, Liannet, Asia-Pacific Blockchain Association, Pacificnet Strategic Investments Ltd., Super Angels Ventures Ltd., AXN Holdings Ltd., Paradigm Technologies Unlimited Solutions Corp., Stepwyze LLC.

South Korea's Hanwha group, blockchain developer, also signed a memorandum of understanding with Ceza

Roquero said that the buzz surrounding blockchain technology currently in connection with Ceza were all the results of Intensified efforts of the authority "really promote this new technology, which is considered the future of banking and financial transactions in the world."

He said that currently, with the efforts of Lambino, "Virtually all of Asia is turning to the Philippines to invest in this new venture.We call this" A new project in the valley is taking place "because Cagayan is known for its valleys and hills."

Roquero said that Ceza and his executives believe that the agency is the "ideal place" for fintech or millenarian people who drive the digital age, prefer a quiet place, that Cagayan offers.

He badured that no flight-by-night company will be accepted, as Ceza is carefully selecting applicants.

We need those who are established so that we can avoid scams, "Roquero said.

Ben E. Evardone, representative of Eastern Samar, praised Ceza for his initiative because it is at the heart of the so-called Fintech revolution. "I am happy that they are giving priority to this industry that will revolutionize financial transactions around the world," he said.

Imelda "Emmie" Calixto-Rubiano welcomed delegates from abroad and the Philippines to the summit. She has provided support for Ceza and Fintech companies that are in the country, saying that they can count on her if they need help, as well as the House of Representatives.

Evardone noted that only two out of 10 households in the country have access to banking services, which is why blockchain technology offers tremendous opportunities for financial inclusion to more than 90% of Filipinos.