The Southeast Island Country has given a temporary license to operate the third exchange in its borders. Fintech blockchain company CEZA hub will be allowed to manage an offshore exchange just north of the country.
The leading technological hub CEZA, short for Cagayan Export Zone Authority, runs the hub in the Freeport area. The group is responsible for tech solutions in the area and is now responsible for receiving a provisional license to a Hong Kong-based company. The aim of tech leaders in the area is to create a new tech area in Southeast Asia to rival that of California’s own Silicon Valley.
Over a dozen of the near twenty fintech firms have already applied, paying their dues to help get the hub in full operations. Blockchain technology will play a major role in the success of the regions technological advancements. Now the committee in charge CEZA, needs to solidify their requirements and principle licenses for companies who have joined the hub.
The move will require tech geniuses from every facet of the industry, only the most skilled technicians will have a place in the newly emerging Southeast Asian market place. Other positions available will be related to managerial and clerical sections of the tech industry. The new hub will open up space for dozens, if not hundreds of jobs to help improve the areas overall economy.
The new firm, called Liannet is the third of its kind, and responsible for the CEZA exchange platform’s operation, research and development. The new agency will be used to help improve blockchain technology, while also helping to advance cryptocurrency development as well.
CEZA is planning on becoming the tech hub for Southeast Asia, staking its claim as one of the most advanced tech areas on the planet. The biggest challenge for CEZA will be focusing on one fintech area to develop. The industry has endless fields, but it’s likely the main focus will be on that of payment processing systems, cryptocurrencies and the trading of goods & services. Needless to say, expectations are high for the new exchange, who must work fast to bring their goals for the region to fruition.
Will they be able to stake the claim they’re attempting to? Leave your thoughts in the comment section below.