Cagayan Economic Zone Authority (CEZA), did not disappoint at all as it unveiled its huge leap to achieve the goal of being Asia's blockchain and FinTech hub.
Last Saturday, July 28th., marked the day of signing the memorandum of understanding (MoU) between CEZA and NEM, a smart asset blockchain firm. This kicks off NEM's integration of PH’s inland blockchain market.
Quite surely, the said MoU raised a lot of brows as regulators from BSP (Bangko Sentral ng Pilipinas) and SEC (Securities and Exchange Commission) are still on the drafting phase of documenting the “suitable” set of regulations.
There is indeed no stopping CEZA now - soon enough, it will not only be Silicon Valley’s counterpart in Asia but it will also place Philippines in a competitive position in the region’s financial industry - what a feat!
Credits to the article by Komfle Manalo.