Philippines’ CEZA Awards ADAX Rights to Open a Security Token Issuance platform and Security Trading Exchange

Sec. Raul L. Lambino (right) Administrator and CEO of the Cagayan Economic Zone Authority (CEZA), handed over to Aaron Carter (left), Chief Technology Officer of Asia Digital Asset Exchange (ADAX), an OVCE virtual currency exchange license on April 4, 2019 at Bonifacio Global City.

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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.

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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.

About Richard Kastelein

In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, ' The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write.

Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications.

Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the EuropeanCommission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.

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