Following on the heels of the launch of security token trading platform Cezex earlier this year, the Philippines’ Cagayan Economic Zone Authority (CEZA) has awarded the Asia Digital Asset Exchange (ADAX) with an Offshore Virtual Currency Exchange (OVCE).
The OVCE will allow ADAX to offer and list assets, utility and virtual currency tokens. ADAX plans to operate both a security token issuance platform and a security trading exchange (secondary market) focusing on the digital asset-backed token class, offering opportunities for Asia-based investors to purchase and trade asset-backed tokens.
Being one of the first regulated security token issuance and exchange platforms in the world that has a government-backed license in hand, ADAX will join major players in addressing a big part of the growing interest in the digital security token marketplace.
ADAX will also open an asset-backed token offering platform for business clients that shall service projects looking to conduct a fully regulated asset token offering. According to ADAX representatives, talks with several projects seeking to tokenize real-world assets such as real estate, corporations, and other institutional assets are underway. ADAX is expected to begin issuing security tokens Q2 of 2019 while ADAX is expected to begin trading securities in Q3 2019.
- Bitpay Opens Up Doors For Ethereum Payments - September 16, 2019
- Neufund Launches Blockchain-Driven Equity Token Sale for Retail Investors Out of Lichtenstein - September 16, 2019
- London Blockchain Accelerator Academy Looking for Partners - September 13, 2019
- Blockchain Startup Blockstack Raises a Whopping $23 Million In SEC-Qualified Reg A+ Token Offering - September 12, 2019
- France Vows to Block Facebook Libra Cryptocurrency in Europe - September 12, 2019
- R3 and Mastercard Team Up Mastercard to Build Overseas Payments System Build on Blockchain - September 12, 2019
- ConsenSys Officially Joins Hyperledger Project – Adding Public Blockchain Capability to Hyperledger - September 11, 2019
- Telegram Open Network Labs Releases Development Suite for TON Blockchain - September 11, 2019
- Whale Alert: USD One Billion+ BTC Was Transferred in One Transaction Last Week - September 11, 2019
- New Professional API Trading Program AlgoX Prime API Launched by eToroX - September 11, 2019
- Bitcoin.com’s Roger Ver Steps in to Operate Node on Cryptographer David Chaum’s New Elixxer Project - September 11, 2019
- Seychelles Heats Up With a First for a National Stock Exchange – MERJ Exchange Goes Live with Tokenized IPO - September 10, 2019
- Computing Legend Steve Wozniak To Launch Blockchain Energy Project – EFFORCE - September 10, 2019
- Hollywood Star Wesley Snipes To Tokenize $25 Million USD Movie Fund with Liechtenstein Blockchain Innovator LCX - September 9, 2019
- Netki Extends TransactID Solution For FATF “Travel Rule” Compliance - September 9, 2019
- Market Demand For Sophisticated Crypto Trading Methods Drives Singapore’s Broctagon Fintech Group To New Heights – Pushing Them Past $5 million - September 5, 2019
- London-based Custodian For Digital Assets, Copper, Reach $500m In Transactions In Just Three Months - September 5, 2019
- UN Meeting: Gibraltar Lawyers Call For A Global Regulatory Framework For Cryptocurrencies - September 4, 2019
- Michael Terpin’s BitAngels Investor Network Partners with Bitcoin Bay to Expand Blockchain Investment Ecosystem in Toronto, Canada - September 3, 2019
- Coinanalyst Launches Socializer – New Communication Tool - September 3, 2019
Also published on Medium.