Philippines, a country that has crypto-friendly laws for investors and companies, is now in headlines because of its coveted Philippine government. The government is having futuristic goals to make northern Philippines as the emerging Silicon Valley of the Asia. Due to its friendly laws, the Asian country is joining hands with many companies, which are situated offshore and are currently offering solutions related to blockchain and financial technology.
Raul Lambino, who is currently heading the Cagayan Economic Zone Authority (CEZA), has been in close talks with the established businessmen who marked their presence in the Fintech Summit, which was conducted in Bonifacio Global City. At the conference, he spoke about his commitment to change CEZA into a safe haven for digital services involving cryptocurrencies, blockchain, and fintech.
At the Cagayan Special Economic Zone, Raul spoke with the business heads wherein he assured that the system created by them is perfect for the younger generation and the leading companies in cryptocurrency such that with the help of advanced systems and framework used by them, the people are able to make a lot of technological innovations in the near future.
He also said – “The best of nature and cutting-edge technology will combine to bring about a new hub in Asia for the world’s leaders in the burgeoning global currency of the future.”
His efforts were appreciated by the cryptocurrency backed companies and at least 21 companies having their base outside Philippines were excited and have already signed up with CEZA to turn the dream of Lambino into reality. The companies are expected to make a minimum investment of 40 million dollars in about two years.
The major crypto-based companies that have confirmed their plan to build a shop in the premise of CEZA are majorly Hong Kong-based companies, namely Xin Peng Group, Changwei International Co. Ltd etc.