HK firm granted offshore virtual currency exchange license

HK firm granted offshore virtual currency exchange license

The Cagayan Economic Zone Authority (CEZA) in Sta. Ana, Cagayan province, formally welcomed Hong Kong-based Asia Premier International Limited (APIL) as one of its 17 offshore fintech firm locators. On Friday, CEZA administrator Raul Lambino handed APIL Chairman and CEO Alexander Fu Kong Sang his firm’s offshore virtual currency exchange (OVCE) provisional principal license. The presentation of the license took place during the APIL NiuEx Exchange launch. The event was attended by hundreds of foreign and local blockchain and cryptocurrency leaders and enthusiasts, as well as Philippine government officials, and other guests. APIL is now a member of the Crypto Valley of Asia, CEZA’s premier hub for the development of digital token exchanges and blockchain-based technologies. Amando Jimenez, chief operating officer of APIL, said the firm is the country’s seventh OVCE license holder. He said the license from CEZA enables APIL to run its blockchain operations in the Philippines although his company will only be serving overseas markets.

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