Several countries and regions show an increasing interest in cryptocurrencies. The Philippines is one of those regions, as interesting things are happening behind the scenes.
The ties between bitcoin and The Philippines has been apparent for many years now.
The Philippines Needs a new Airport
Several domestic companies rely on cryptocurrencies for financial services and products.
As such, a “crypto region” has been set up in the country not that long ago.
It is very similar to Zug’s Crypto Valley effort, a region where regulation is favorable.
To further improve upon this region, a new airport will be built to cater to investors and international companies.
This venture will come at a steep cost of up to $80 million.
If everything goes according to plan, the new airport will be ready for use by 2024 or early 2025.
Creating a safe and stable environment for blockchain and crypto development is necessary.
Doing so allows for exchanges to operate without unwanted scrutiny, as well as give international companies an extra region to explore.
The existing providers in this region of The Philippines have been vocal about their concerns.
The lack of an airport is problematic, as the nearest airport is over 75 kilometers away.
Making the area more attractive and viable will be crucial to ensure its sustainability in the years to come.
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