Online Blockchain, a UK blockchain company which is quoted on the London Stock Exchange, has launched ManilaCoin, a cryptocurrency for financial inclusion in the Philippines.
The company said the cryptocurrency is designed as an alternative form of finance and transaction. It added that the coin is free to use, 100% secure and self-governing. It does not rely on any interaction with an authoritative body or government.
Online Blockchain believes that the Philippines is on the verge of becoming a crypto hub as governmental initiatives have opened up the market for blockchain companies. It added that the The Cagayan Special Economic Zone will be welcoming ten crypto businesses from across Asia to be start their activities and operating in the island.
The CEO of Online Blockchain, Clem Chambers, said: “OBC is applying the tried and true strategy of thinking globally but acting locally. We are looking at different opportunities for crypto projects locally where we see a need and a community to serve. The Philippines is one of those.”