CEZEX, regulated by Cagayan Economic Zone Exchange, to launch by 28 January 2019
SINGAPORE - Media OutReach - 14 January
2019 - Asia Blockchain and Crypto Association ("ABACA")
is pleased to announce the launch of CEZEX, Asia's first security token trading
platform, by 28 January 2019.
CEZEX, the first licensed overseas virtual currency exchange to launch
out of Philippines' Cagayan Economic Zone Authority ("CEZA"), will allow users
to trade fiat and crypto currencies, security tokens backed by assets such as
stocks, bonds, commodities and real estate, and derivatives including CFD and commodities.
CEZEX, one of the first members of ABACA, is a licensed Offshore Virtual
Currency Exchange and Asset-Backed Securities Token Exchange ("OVCE"),
regulated and licensed by CEZA, a government owned and controlled corporation
set up in 1995 to manage and supervise the development of the Cagayan Special
Economic Zone and Freeport (CSEZFP).
"CEZA has since initiated several projects to promote development
in the CSEZFP - including the development of the Crypto Valley of Asia
("CVA"), a development by Northern Star Gaming & Resorts Inc
("Northern Star") and Falcon Gain, a property development consortium
led by Mr Enrique Gonzalez and Mr. JJ Atencio, to bring economic growth to
CVA aims to be home to a new wave of financial technology companies
establishing their operations in the CSEZFP. CVA expects to secure investments
valued at US$100m over the next 10 years.
CEZA has appointed ABACA as the first Self-Regulatory Organisation
("SRO"). As an SRO, ABACA will make and enforce its own rules among
its members or associated persons. CEZA, however, will remain the overall
CEZEX will offer a licensed, regulated platform for trading multiple
traditional asset classes represented by a digital asset with fiat/crypto
currency pairing trading which include currencies, security tokens and
derivatives. As a fully-licensed digital assets exchange, CEZEX provides
companies with a cheaper, faster, easier and shorter listing process while
giving users and traders access to a wider variety of trading products under
one platform all in a fully regulated, licensed environment.
Mr Enrique Gonzalez, Vice Chairman of ABACA said "The upcoming
launch of CEZEX is a significant milestone, not just for CEZEX, but also for
CEZA and ABACA as CEZEX is the first licensed Offshore Virtual Currency
Exchange and Asset- Backed Securities Token Exchange under the
recently-announced CEZA -SRO rules and regulations governing OVCE operators.
We are pleased to launch our first OVCE operator
out of CEZA. CEZEX is backed by Pinnacle Digital a digital assets exchange
operator, and consultancy firm, IPE Global Pte Ltd. a Singapore based financial
technology investment firm; the Phnom Penh Derivatives Exchange and SB Kaikaku
Fund a venture capital fund affiliated with Softbank. This strong backing makes
CEZEX one of the more renowned exchange players in the region."
"The success of this launch, will advance Asia's blockchain and crypto
sector and attract more companies and start-ups to follow suit. We want to
expand our portfolio of cutting-edge innovative companies and realise the collective
mission of CEZA, CVA and ABACA to attract blockchain and fintech companies to
bolster Philippines' position as a global fintech and blockchain hub", he
"We are impressed with the technical capability of the CEZEX Group and
heartily congratulate them on being the first to be fully integrated in the
pioneering Government Regulated Audit Platform For Crypto and Fintech
Industries. We welcome their recognition of CEZA and the Philippines as a
progressive jurisdiction for Fintech industries and the greater benefit for
Asia of Financial Inclusion. We eagerly await their official Launch and the
realization of the strong legal basis the Cagayan Economic Zone provides for
its investors" said Mr Mel Songco, Chief Operating Officer of Y-Fi Business Solutions.
CEZEX will collaborate with a maximum of four sponsors/nominated
advisors supported by CEZA to introduce and list security tokens and digital
assets. Inbase Partners Limited, one of the sponsors/nominated advisors, are in
position to work on the initial listing of products on the platform.
Mr Stephen Lynch, Inbase Partners' Managing Partner, said "The
blockchain smart contract model will revolutionise both corporate finance and
the financial services industry as it will bring advantages such as asset
interoperability, with different types of assets represented by the same medium
in the form of security tokens, which are traded on the same platform as well
as automated compliance and rapid settlement, fractional ownership,
round-the-clock trading and increased liquidity. "
He added, "Previously traditionally illiquid assets classes such as real
estate, fine art, and early stage venture capital equity may now be tokenised
and even further fractionalised to access earlier liquidity events".
Jack Ser, CEO of CEZEX, said, "CEZEX functions in the same manner as a
traditional exchange, where sponsors introduce listings, broker/dealers
introduce customers, market makers and custodians support the activities of the
exchange. CEZEX has built an ecosystem with a broker/dealer network throughout
the Asian region and is expanding to enable fully regulated and compliant
He added, "CEZEX adheres to the highest levels of KYC and AML compliance
in a fully regulated environment to be able to offer digital asset trading for
currencies (fiat/ cryptocurrency), security tokens and a very unique
Asia blockchain & Crypto Association ("ABACA") is a
self-regulatory organization (SRO) granted under the authority of the Cagayan Economic
Zone Authority (CEZA). ABACA self-regulates the code of ethics and compliance
with best practices and industry standards for the financial technology firms
operating within, or in affiliation with CEZA and ABACA members.
CEZEX is Asia's first fully regulated and licensed digital assets
trading exchange for multiple asset classes including currencies, securities
and derivatives. With a focus on unique derivative products, CEZEX is also a
platform for listing security tokens. CEZEX's ecosystem features fully licensed
nominated advisors/sponsors; broker/dealers; market makers and custodians
enabling the environment required for institutionally compliant trading.
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