Philippines Welcomes Fintech Companies

timerland

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What is really interesting in the article is this:

Quote

Philippines to gain momentum in providing an environment that encourages financial innovation and inclusion

I believe this is what every government should be doing.

Instead of trying to restrict people from accessing and using bitcoin, creating an environment where Fintech startups, or crypto startups are able to exist with advantageous tax rates are going to mean in the long term, more revenue in the economy.

Whichever country starts endorsing crypto, and Fintech usage the most and first, will reap the most benefits over the long run.

jonaire99

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This development will finally put the Philippines in the world map of fintech or financial technology. Some future virtual currencies might also come from the Philippines. In the coming years bitcoin may eventually legalized in this southeast nation and might be added to a group of countries that accept bitcoin as one of their currency.

Christian31

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Quote from: wvizmanos on May 23, 2018, 11:12:51 PM

We are a proud supporter of Fintech Companies, as a matter of fact we have put up an economic zone where Fintech companies can establish and grow their business there, enjoying tax incentives.
Welcome aboard!!!

Excerpt from news clip

"Saad Rizvi, the co-founder and chief executive officer of Coinbundle, recently met with the National Secretary of the Philippines to finalize the exchange’s registration through CEZA, the Cagayan Economic Zone Authority – a special economic zone offering a number of tax incentives to companies operating in the country’s emerging fintech industry.

“This agreement is a huge win for CoinBundle and will enable us to go to market rapidly and help our users to begin saving and investing. We’re also excited to contribute to the fintech ecosystem of the Philippines and create new jobs here,” Mr. Rizvi said.

Coinbundle is one of fifteen fintech, blockchain, and cryptocurrency companies that are set to invest in CEZA, alongside Hachiman Technology Sdn BHD, MX Exchange Ventures, IPE Global PTE, Inc. Superieur Tech Pte. Ltd., CSM, Madison Blockchain Strategy Investment Company Ltd., Asia Pacific Blockchain Association, Pacificnet Strategic Investments Ltd., SuperAngels Ventures Ltd., and ANX International.

CEZA administrator, Raul Lambino, has welcomed the partnerships, stating: “Working with virtual currency companies allows the Philippines to gain momentum in providing an environment that encourages financial innovation and inclusion, while ensuring that the best interests of the country, the financial system, consumers, and investors are adequately protected. This new development aims to drive the economy forward by creating employment opportunities and boosting job growth. The Philippines will be ready to provide cryptocurrency companies operating here with the manpower they need for their businesses.”

I am from the Philippines and this is a great news. It is a good thing that this kind of business was allowed by the government. Thus, it is a good sign that crypto business will continue to grow here in our country.

alex M

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Quote from: faithupgrade on May 25, 2018, 01:20:50 PM

Thanks good heaven for giving us open minded leaders and for allowing us to cash out and buy bitcoins. Thank you God, for allowing Philippines to participate in ICO crowd funding.

cept crypto currency and giving us, open minded leaders. I feel so blessed for this as other countries banned Bitcoin and ICO.

Me too, Im happy upon reading this, and thankful to Philippine leaders for supporting crypto currency.
It is a good news for everyone who participate here and for new investors who need more assurance with their investments. This will give clearer vision and understanding to all people, not only filipinos that crypto currency or bitcoin is not a scam. Hope many more positive news about crypto business will come.

KillyGon

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is good if create coin and open ico project
can collect much money to can run is project, create announcement thread , use trusted and reputable campaign manager

aoluain

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This is very good news, its actually positive news for crypto generally.
The philippines can be added to a growing list of fintech and crypto
friendly countries along with most notably Japan, Australia, Spain,
Switzerland and Estonia.

batang_bitcoin

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Quote from: Johnzky on May 25, 2018, 12:45:36 PM

Quote from: batang_bitcoin on May 25, 2018, 06:20:27 AM

Great news, if this will also be reported on mass media like television then the skeptics about crypto's will change their minds and belief.

wvizmanos when you are posting like this news always include the reference link on where you got the copy paste or else you'll be banned because it is plagiarism. Although you included the link on the 3rd post.

[..]
But i believe this is one milestone for every filipino and must be proud of the international company are investing and supporting our country towards future of this great crypto community

Not only for the Filipino's but for the whole crypto community as well.

Getting more investors to invest is a hard thing to do and giving their eyes to a specific place to start their own operation is already a success for the country. But it's not only beneficial for the country but for the crypto market as well, giving idea to the people who lack of knowledge on how crypto and blockchain can be included to real businesses.

jhenfelipe

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Merit: 647

It is great that the Philippines is embracing innovation. It seems that the news wasn't spread enough though. If it will be announced/published in different ways, people here that are not aware of Crypto and Blokchain will most likely be curious of what it is and try to look for it. Anyway, Filipinos, especially those in Cagayan Valley will surely be more happy and proud once it goes well. Looking forward into it.

Oh I saw it in inquirer.net too http://business.inquirer.net/251222/cagayan-ecozone-seen-fintech-hub

@wvizmanos just edit your main post and put the reference link there. It's a must

dothebeats

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Cashback 15%

The government is just being practical and shows other potential investors that they are welcome for changes and innovation as long as it doesn't promote illegal activities and create jobs for the people. I for one believe that this step will help other Fintech startups and investors to gain confidence in establishing their business in the Philippine soil. Though the Central Bank of the Phils. once released a memo regarding crypto scams such as ICOs and ponzi schemes, the country still remains positive om crypto enthusiasts and services that wishes to bring their business here.

faithupgrade

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ARCS - A New World Token

Thanks good heaven for giving us open minded leaders and for allowing us to cash out and buy bitcoins. Thank you God, for allowing Philippines to participate in ICO crowd funding.

cept crypto currency and giving us, open minded leaders. I feel so blessed for this as other countries banned Bitcoin and ICO.

Johnzky

member

Activity: 616

Merit: 30

Quote from: batang_bitcoin on May 25, 2018, 06:20:27 AM

Great news, if this will also be reported on mass media like television then the skeptics about crypto's will change their minds and belief.

wvizmanos when you are posting like this news always include the reference link on where you got the copy paste or else you'll be banned because it is plagiarism. Although you included the link on the 3rd post.

And thats the hardest thing would happens,OP only want to spread the good news but the risk is there.

Always put links from where did you get the topic so you will have some proofs of legitimacy.

But i believe this is one milestone for every filipino and must be proud of the international company are investing and supporting our country towards future of this great crypto community

irpunfpp

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Philippines's open attitude towards encryption will promote community development. We all know that there is a large population in Southeast Asia, which is very helpful to the popularity of bitcoin.

adzino

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www.Crypto.Games: Multiple coins, multiple games

Quote from: wvizmanos on May 23, 2018, 11:12:51 PM

We are a proud supporter of Fintech Companies, as a matter of fact we have put up an economic zone where Fintech companies can establish and grow their business there, enjoying tax incentives.
Welcome aboard!!!

Excerpt from news clip

"Saad Rizvi, the co-founder and chief executive officer of Coinbundle, recently met with the National Secretary of the Philippines to finalize the exchange’s registration through CEZA, the Cagayan Economic Zone Authority – a special economic zone offering a number of tax incentives to companies operating in the country’s emerging fintech industry.

“This agreement is a huge win for CoinBundle and will enable us to go to market rapidly and help our users to begin saving and investing. We’re also excited to contribute to the fintech ecosystem of the Philippines and create new jobs here,” Mr. Rizvi said.

Coinbundle is one of fifteen fintech, blockchain, and cryptocurrency companies that are set to invest in CEZA, alongside Hachiman Technology Sdn BHD, MX Exchange Ventures, IPE Global PTE, Inc. Superieur Tech Pte. Ltd., CSM, Madison Blockchain Strategy Investment Company Ltd., Asia Pacific Blockchain Association, Pacificnet Strategic Investments Ltd., SuperAngels Ventures Ltd., and ANX International.

CEZA administrator, Raul Lambino, has welcomed the partnerships, stating: “Working with virtual currency companies allows the Philippines to gain momentum in providing an environment that encourages financial innovation and inclusion, while ensuring that the best interests of the country, the financial system, consumers, and investors are adequately protected. This new development aims to drive the economy forward by creating employment opportunities and boosting job growth. The Philippines will be ready to provide cryptocurrency companies operating here with the manpower they need for their businesses.”

Good initiative taken by the Philippines. They are the smart one and knows the true benefit of letting them in. They are the one that knows how it is going to help them to make their economy stronger. Unfortunately it is only the Asian countries that are actually realizing the try power of crypto currencies and hence they the only one taking those steps and staying one step ahead of the western countries.

tannerchum

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Semi-Decentralized Exchange

Quote from: Nerman on May 24, 2018, 12:09:34 AM

I am from the Philippines but I was not able to heard this news. It would be great if you can share the source, I am sure there are a lot of people who will be interested in reading that news.

Anyway this is still a win for us, It will generate jobs and make block chain more famous in the Philippines.

Same as you men, Im from Philippines but never heard a news like this. But so thankful that our country is proven and qualified is this kind of bussiness. I'm so proud that I born a not so rich country and not so fomous country but can be handle any kind of reposibilities that can assure it that it can help to our country and that's Philippines.

almaerk08

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Quote from: wvizmanos on May 23, 2018, 11:12:51 PM

We are a proud supporter of Fintech Companies, as a matter of fact we have put up an economic zone where Fintech companies can establish and grow their business there, enjoying tax incentives.
Welcome aboard!!!

Excerpt from news clip

"Saad Rizvi, the co-founder and chief executive officer of Coinbundle, recently met with the National Secretary of the Philippines to finalize the exchange’s registration through CEZA, the Cagayan Economic Zone Authority – a special economic zone offering a number of tax incentives to companies operating in the country’s emerging fintech industry.

“This agreement is a huge win for CoinBundle and will enable us to go to market rapidly and help our users to begin saving and investing. We’re also excited to contribute to the fintech ecosystem of the Philippines and create new jobs here,” Mr. Rizvi said.

Coinbundle is one of fifteen fintech, blockchain, and cryptocurrency companies that are set to invest in CEZA, alongside Hachiman Technology Sdn BHD, MX Exchange Ventures, IPE Global PTE, Inc. Superieur Tech Pte. Ltd., CSM, Madison Blockchain Strategy Investment Company Ltd., Asia Pacific Blockchain Association, Pacificnet Strategic Investments Ltd., SuperAngels Ventures Ltd., and ANX International.

CEZA administrator, Raul Lambino, has welcomed the partnerships, stating: “Working with virtual currency companies allows the Philippines to gain momentum in providing an environment that encourages financial innovation and inclusion, while ensuring that the best interests of the country, the financial system, consumers, and investors are adequately protected. This new development aims to drive the economy forward by creating employment opportunities and boosting job growth. The Philippines will be ready to provide cryptocurrency companies operating here with the manpower they need for their businesses.”

I am also from the Philippines, and I am so proud and happy of this progress. This really brings joy to all of us because through this, everyone can have a great opportunity, especially for us Filipinos. This can be the beginning of good feedback and brighter future for the cryptocurrency. This will help the bitcoin and cryptocurrency to erase being tag as "scam". This is indeed a very good news.

vhinzkie

newbie

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Quote from: Tankdestroyer on May 25, 2018, 06:31:50 AM

Quote from: wvizmanos on May 25, 2018, 04:18:42 AM

I can see that this is the beginning of Philippines' adoption to crypto currencies and related technologies as a "side effect" of our government's effort to attract investors for a win-win co-operation.

It really is a win-win situation. What's more is that they are planning to open up fintech university that would allow locals to work for the company and other filipinos to get a blockchain degree in their college according to one of the articles that you have linked. I wonder though, will their exchange services beat the current leading bitcoin to Philippine peso exchange coins.ph? Even if it won't I am expecting a lot from it as a Filipino.

This would be a great opportunity,and further adoption of technologies for the future.

Tankdestroyer

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Quote from: wvizmanos on May 25, 2018, 04:18:42 AM

I can see that this is the beginning of Philippines' adoption to crypto currencies and related technologies as a "side effect" of our government's effort to attract investors for a win-win co-operation.

It really is a win-win situation. What's more is that they are planning to open up fintech university that would allow locals to work for the company and other filipinos to get a blockchain degree in their college according to one of the articles that you have linked. I wonder though, will their exchange services beat the current leading bitcoin to Philippine peso exchange coins.ph? Even if it won't I am expecting a lot from it as a Filipino.

batang_bitcoin

hero member

Activity: 3080

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Great news, if this will also be reported on mass media like television then the skeptics about crypto's will change their minds and belief.

wvizmanos when you are posting like this news always include the reference link on where you got the copy paste or else you'll be banned because it is plagiarism. Although you included the link on the 3rd post.

wvizmanos

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Quote from: dE_logics on May 24, 2018, 09:41:15 PM

Great news. I hope the Philippines adds itself to the list of Asian countries that take advantage of crypto and contribute both investment capital and knowledge.

I can see that this is the beginning of Philippines' adoption to crypto currencies and related technologies as a "side effect" of our government's effort to attract investors for a win-win co-operation.

EnricoGomez

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I for one is from the Philippines and I deem this as a great news.
Having a foreign company on the country supporting and relating to cryptocurrency can influence and finally change the negative ideology of accepting bitcoin. Companies reduce the rate of local unemployment and contribute on tax payment.
Hopefully this will yield a significant and positive change Grin

Topic: Philippines Welcomes Fintech Companies (Read 326 times)