The Cagayan Economic Zone Authority (CEZA) has agreed to partner with Rare Earth Asia Technologies (Rare Earth), one of its Principal Offshore Virtual Currency Exchange (OVCE) licensees, to market CEZA through the Crypto Valley of Asia as the most ideal investment destination in Asia for Blockchain, Crypto and Financial Technology (FinTech) companies.
Rare Earth has been granted the exclusive right to be CEZA’s sole marketing and technical partner to promote CEZA in Japan, Korea and Australia and convert the increasing interest of these major countries in CEZA into actual locator investments.
Rare Earth has also plans of issuing a token that enables its exchange partners to receive a share of transaction fees. This initiative shall be subject to CEZA Fintech and OVCE Rules and Regulations as well as its upcoming framework and regulations on ICO and STO.
As part of the agreement with CEZA, Rare Earth will comply with all the Philippine Rules and Regulations of the concerned regulatory agencies such as the Banko Sentral ng Pilipinas (BSP) and Securities and Exchange Commission (SEC) when appropriate.
CEZA is strategically and conveniently located within a few hours from the major crypto activity in the region as evidenced by the high volume of trade in countries like China, Japan, Korea and Singapore.
CEZA offers locators clear guidelines and transparency, attractive tax incentives, access to a rich pool of talent in the areas of Blockchain and FinTech, and other benefits. The development plan for the Crypto Valley of Asia includes the launch of a Blockchain and FinTech University to provide skilled and experienced workers for companies in the Economic Zone.
Rare Earth supports CEZA in its goal to make the Philippines the regional center for new FinTech innovations as well as a thriving hub for Blockchain and Crypto startups.
This article first appeared on https://ceza.gov.ph/article/ceza-news