FAB Approves Defi Platform Operation | CoinScribble

The Freeport Area of Bataan (FAB) is a special economic zone with approximately 42,000 acres of real estate located within a two and a half hour drive, fifty-five minute boat ride or a twenty-five minute helicopter flight from Manila.

AFAB has just granted iWave Advanced Research Group (iWave) the authority to exclusively operate a decentralized and centralized digital asset exchange platform that shall allow the cross border trade and exchange of digital assets between and among foreign investors.

AFAB has further approved the development and launch of a decentralized financial platform in July of 2021 named Oz.finance.

Oz.finance is a blockchain protocol which provides liquidity and credit to issuers within its decentralized exchange, issuers in the GTX platform and for any tax free entity registered at AFAB. Oz shall link the traditional financial space and the decentralized financial space giving immediate access to credit and capital to any traditional business entity.

Ultimately AFAB, through GTX, aims to give all their operators access to much needed credit and capital to seed and upscale their businesses while enjoying near zero tax incentives. AFAB can also fast track the processing of residency and work permits for foreign nationals to locate and invest in AFAB.

The launch of the DeX, CeX, and DeFi platform shall complete by the second quarter of 2021.

First phase shall include the development and operation of GTX, which shall offer a full range of services including the exchange and issuance of new digital assets, digital securities, digital commodities and complex financial instruments. Thereafter, Oz shall provide decentralized liquidity, lending and credit to the issuers. Investors and liquidity providers may qualify for residency business registration upon request.

More information may be found at afab.gov.ph or globaltradex.com.

Originally published at https://coinscribble.com on January 6, 2021.