The Sinophil Economic Zone Dax Management company or ‘SPEZA’, presented their revolutionary concept behind the regulation of offshore exchanges for companies by leveraging their OVCE licence, at the World Blockchain Summit in Kuala Lumpur. The two-day summit took place on the 27th and 28th of February at the InterContinental Hotel in Kuala Lumpur city.
The global cryptocurrency and digital assets industry is on an upward trajectory as countries have begun warming up to the idea of Security Tokens, ICOs and Digital Assets. Even Malaysia has opened its doors to Blockchain based technologies, despite being a nation that conforms heavily to Sharia banking norms. However, roadblocks have cropped up globally due to the absence of adequate regulations and trading laws. This has put a dent in blockchain businesses that rely heavily on crypto-exchanges.
By using their OVCE (Offshore Virtual Currency Exchange) licence, SPEZA helps exchanges venture into newer territories and continents by utilising this permit. This helps them to be virtually present in any location across the globe, whilst adhering to strict AML/CTF policies from CEZA.
Companies are also able to leverage the OVCE license to issue asset-backed DATO (Digital Asset Token Offerings) outside of the Philippines. This concept provides a safe haven for the issuer to raise funding through token offerings in multiple geographical areas with consideration to local jurisdictions.
Atty. Edwin Alden V. Uy, CEO of SPEZA, said that “As the global blockchain and crypto industry moved into second gear, with acceptance ratios hitting all-time highs, the bureaucratic red tape which prevents the timely regulation of laws and licences has inevitably stalled the proceedings. Our OVCE Licence helps exchanges and businesses jump the tape and get a head-start on business operations by having a virtual presence in multiple locations whilst maintaining a physical entity in a single spot. We are basically helping the industry grow despite the bottlenecks that persist within the government”, in an exclusive interaction.
About SPEZA:
SPEZA provides a safe haven and solutions for digital asset companies through our offshore virtual currency exchange license, regulated white label exchange platform and asset tokenization services.
About Trescon:
Trescon is specialised in producing highly focused B2B events that connect businesses with opportunities through conferences, road shows, expos, demand generation, investor connect and consulting services.
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