{"id":107445,"date":"2021-01-06T11:40:53","date_gmt":"2021-01-06T11:40:53","guid":{"rendered":"https:\/\/precoinnews.com\/?p=107445"},"modified":"2021-01-06T11:40:53","modified_gmt":"2021-01-06T11:40:53","slug":"philippine-special-economic-zone-authorizes-the-development-and-launch-of-a-decentralized-and-centralized-digital-asset-exchange","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/philippine-special-economic-zone-authorizes-the-development-and-launch-of-a-decentralized-and-centralized-digital-asset-exchange\/","title":{"rendered":"Philippine Special Economic Zone Authorizes the Development and Launch of a Decentralized and Centralized Digital Asset Exchange"},"content":{"rendered":"

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The <\/span>Authority of the Freeport Area of Bataan<\/span>\u00a0 (AFAB) has officially licensed a centralized and decentralized digital asset exchange to operate within its special economic zone for the benefit of international investors. AFAB is the fastest-growing freeport in the Philippines located in the province of Bataan. FAB addresses the needs of the new normal by providing extensive benefits to its operators. This includes offering a conducive virtual and physical business ecosystem supported by near-zero tax incentives, low-cost resources, access to capital, and to credit, all of which give any virtual or physical enterprise a distinct advantage in the new world.\u00a0<\/span><\/p>\n

AFAB awarded iWave Advanced Research Group to (doing business as\u00a0 Global Trade Exchange or GTX) an 8-year exclusive license to operate a decentralized and centralized digital asset exchange and financial services company under the authority of the zone. The intent is to bridge the gap between the DeFi and DeX space and the real world through ecozones starting with AFAB.\u00a0<\/span><\/p>\n

iWave, Inc. is an affiliate and investee of DFNN, Inc. (\u201cDFNN\u201d), a publicly listed company at the Philippine Stock Exchange (PSE),<\/span><\/p>\n

At present, iWave has entered into an implementation agreement to become a listed entity in the Singapore Stock Exchange or the SGX<\/span><\/p>\n

The authorization of AFAB empowers iWave to carry out its services on a wide range of capital market products such as futures, commodities, derivatives, and several similar solutions for its foreign clients. The services of the Global Trade Exchange or the GTX are yet to begin. The GTX will only cater to the foreign-registered entities. Its services are expected to commence in 2021.\u00a0\u00a0<\/span><\/p>\n

GTX Services for the Locators<\/span><\/h2>\n

All virtual and physical registered locators would be able to avail of the following benefits:\u00a0<\/span><\/p>\n