The Freeport Area of Bataan (FAB) is a special economic zone measured at around 42,000 acres just a two and a half hour drive, fifty-five minute boat ride or a twenty-five minute helicopter flight from Manila. At present, at least 80% of all the investments in the ecozone come from electricity, gas, steam, and airconditioning supply.
On November 11, 2020, the Authority of the Freeport Area of Bataan (AFAB) granted iWave Advanced Research Group (iWave) the authority to operate Global Trade Exchange (GTX). GTX is a platform which will enable cross-border trading and the exchange of digital assets between international investors exclusively.
AFAB has further granted the approval for the development and launch of OZ.finance (Oz). Oz is a blockchain protocol to provide credit and liquidity to GTX's operators, granting them access to much needed credit and capital for the seeding and upscaling of their businesses.
GTX shall offer a full range of services, including the exchange and issuance of new digital assets, digital securities, digital commodities, and complex financial instruments, and the establishment of Oz, which shall provide decentralized liquidity, lending, and credit to the platform’s issuers.
In the end, AFAB shall be a venue from where any international business may register and experience the full benefits of distributed ledger technology in a regulation compliant environment while protecting the privacy of the individual and business.
Both platforms are scheduled for launch in Q2 of 2021.