For Security Token, 2019 will be an exciting and energetic year, Philippines CAGAYAN Economic Zone issued new digital asset rules, and passed the STO regulation. STO kicks off its international development in the Philippines.
STO, security Token Offering, refers to legal and compliant asset-backed token public issuance in accordance with laws, regulations and administrative rules under certain regulatory framework. It is different from listed stocks issued on traditional stock exchanges partly because it utilizes the decentralized blockchain technology. Under the superposition of these two product forms, a new type of trading platform has emerged to enhance the general trend of securitization of asset in a digital form.
The Philippine government licensed exchange CZC is the entry point for STO and ST trading in the Philippines. As it’s one of the first exchange in the world to tokenize securities, CZC Exchange is authorized by the government to conduct third-party supervision, including policy supervision, data supervision and business supervision, to ensure the authority, impartiality and authenticity of any STO transaction. In this compliance policy environment, the world’s first ASTO (AMT Security Token Offering) trading ecosystem created by CZC and the underlying public chain Ambertime is also about to join hands with the professional ocean-themed vacation service provider MEDUSA to create the first security token offering in the the Philippines.
In order to facilitate this cooperation, MEDUSA visited Manila where CZC exchange is located for discussion and cooperation in February. On March 6, MEDUSA attended the establishment ceremony of the cross-regional alliance “blockchain application and investment alliance” established by more than 100 well-known institutions around the world in Hong Kong. “Blockchain application and investment alliance” attracts a large number of domestic and overseas investors and covers a range of business fields such as health care, education, banking and supervision. MEDUSA participated in the inauguration ceremony and introduced the market of diving education and other Marine sports projects. In the ceremony, MEDUSA conducted in-depth analysis on the current Chinese and even southeast Asian market of diving, and evaluated the future market of marine resort industry and investment potential of applying the blockchain technology in service enhancement as well as financing.