June 14, 2018, Manila Philippines
With the help of the regulatory and business framework in CEZA, the World Token Issuing Alliance (WTIA) will help companies and countries from around the world adopt emerging block chain technology and embrace a new tokenized economy.
The Cagayan Economic Zone Authority ( CEZA )has granted an Offshore Virtual Currency Exchange (OVCE) Provisional Regular License to WTIA, paving the way for WTIA to launch its exchange service on the WTIA Platform.
WTIA works with some of the world’s largest block chain and asset tokenization projects and is responsible for bringing together such projects as Monopoly Hotels & Resorts (MHR); Smart City Company (SCC); and many more. WTIA is all about supporting Real Projects that have a positive impact on the community and country. Projects that deliver economic growth, create high value jobs, and can benefit from block chain technology’s transparency, trust and security,” says Keunyoung Kim, the chairman of WTIA. This is a major step forward for WTIA as they prepare to launch their fully regulated security token exchange platform to increase liquidity for their projects. WTIA’s new license will allow WTIA to offer security, utility and virtual currency tokens, covering the board spectrum of token offerings required as the portfolio of projects under WTIA expands. With the increasing popularity of block chain and its growing ecosystem of tokens, liquidity ensures fair pricing for projects through market dynamics and allows users to invest in the success of projects that they support. ” We are very excited to received this important license from CEZA. WTIA will be able to help our projects develop tokenization models based on asset digitalization, solving many of the problems and bottlenecks in the current marketplace. Through WTIA and block chain technology, we can bring real projects to fruition, creating economic prosperity and jobs for all.” said Kaycee Kim, CEO of WTIA.
The ability to tokenize assets is creating a quiet revolution in the financial world. The digital tokenization of assets such as real estate, corporate assets and even IP allows assets to change hands conveniently, quickly and cheaply, without the need for complicated processes and middlemen. Information is stored on an immutable ledger, secured via a decentralized network, and linked through cryptology, creating a trusted system for the transfer and verification of ownership. Many mainstream financial institutions and asset management companies are very interested in the prospects from this technology and are considering the issuance of tokens backed by real world assets.
WTIA is the advisory and capital market solution of some of the biggest real-world blockchain projects in the world. Projects include sovereign-level tokenization programs, utility-token driven business models for listed companies, tokenized infrastructure securities, high technology applications and much more. Governments and large corporations seeking a new paradigm in management, asset utilization, business development and stakeholder engagement have joined the WTIA. By licensing WTIA in the Philippines, we are confident that Philippines efforts to develop its virtual currency and blockchain industry will lead the region in the years to come.