CEZEX, a member of the Asia Blockchain and Crypto Association (ABACA), is reportedly going to be the first licensed exchange for digital securities in Asia. The exchange will operate from the Cagayan Economic Zone Authority in the Philippines.
CEZEX, is one of the first members of newly established ABACA and 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 which was set up in 1995 to manage and supervise the development of the Cagayan Special Economic Zone and Freeport (CSEZFP).
The trading platform is backed by industry leaders making it one of the most renowned exchange players in the region. 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.
The trading platform will allow its 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. As a fully-licensed digital assets exchange, CEZEX will provide companies with a cheaper, efficient, faster, easier and shorter listing process along with giving its users 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 success of this launch will advance Asia’s blockchain and crypto sector and attract more companies and start-ups to follow suit.” He added that ABACA aims to attract blockchain and fintech companies to bolster Philippines’ position as a global fintech and blockchain hub.