On August 29, 2019, Undersecretary Raymundo Roquero, Senior Deputy Administrator and Chief Executive Officer of Cagayan Economic Zone Authority (CEZA) officiated the launching of Sinophil Economic Zone DAX Management (SPEZA) Digital Asset Exchange in a ceremony held at Shangri-la Edsa Hotel.
SPEZA Digital Asset Exchange is licensed by CEZA as an Offshore Virtual Currency Exchange under CEZA FTSOVC Regulations. It is regulated and supervised within the policies of Bangko Sentral ng Pilipinas (the Central Bank of the Philippines), the Philippine Securities Exchange Commission and regulating bodies appointed by CEZA such as Y-Fi Business Solutions for probity checks and iWave Inc. for backend integration and auditing. Furthermore, SPEZA is a member of ABACA, an association consisting of members currently actively participating in financial technology businesses in Asia and a self-regulatory body that monitors the activities of all its members.
The event showcased the readiness of SPEZA's financial technologies and platforms and its capability to perform trading of various popular digital assets. It also marked the launch of SPEZA Digital Asset Exchange for Initial Coin Offering (ICO), Security Token Offering (STO), Initial Exchange Offering (IEO) and other Digital Asset Services.
Among those who attended the ceremony are Undersecretary Benito Ranque from the Department of Energy, Undersecretary Gen. Elisio Rio from the Department of Information and Communications Technology, Mr. Horacio Yalung, the Chief of Staff representing Ambassador William Lima, the President’s Special Envoy to China, Congressman Joseph Lara, Col. Rodrigo Bonifacio, Col. Antonio Baquiran, officials from government and semi-government agencies, and private institutions in the Philippines
Also present are Mr. Yu Xiaoyang, Executive Director of China Energy Engineering Construction Company, Mr. Ding Yibing, Vice-President of China Rocket Company Limited, Mr. Li Ying, Manager of Laos Satellite, Mr, Zhang Yuxiang, representative of China Construction Group, Li Dongshen, Senior Engineer of China Mechanical Equipment Engineering Company Limited, Mr. Fan Dequn, representative of China Civil Engineering Group, Tian Jinliang, Chairman of Heilongjiang Fengyi Energy Company Limited and representatives of private and state owned companies.
Attorney Alden Uy, CEO of SPEZA said; “The Exchange is equipped with our proprietary market making technology that establishes connections to external exchanges and is able to perform over 20 million transactions per second with the order matching system”.
“There will be an ever-growing interest to invest both in virtual financial assets as well as all the future hybrids of virtual and traditional financial assets. SPEZA sees this trend and we are ready to take a leading role in this industry”, he added.
The event was successfully concluded with messages of appreciation by Chairman Dr. Samuel Lim to all the VIPs and guest who have attended the launching.