Huaren Capital of China said it decided to set up its headquarters in Manila, following the successful state visit of Chinese president Xi Jin Ping to the Philippines.
Jeff Wang, president of Huaren Capital and widely considered the “father of bitcoin in China,” said the decision to choose Manila was based on the Philippine government’s support for the blockchain industry and many policy regulatory conveniences.
“The Philippines regards blockchain innovation as a national strategy, providing a large number of preferential policies and services to related companies, and solving the regulatory problems faced by the blockchain industry,” Wang said.
“At the same time, the traditional developing financial industry in the Philippines has created an enabling environment for Huaren Capital to develop innovative financial services. These services, can aid Philippine authorities to use blockchain technology to advanced financial market service systems to the Filipino people,” Wang said.
The Philippines is seen as the springboard of Huaren Capital. “I’m confident that this raging fire from Southeast Asia will shine in the future and become the focus of decentralized revolution,” Wang said.