VANCOUVER, Jan. 17, 2020 /CNW/ - Cascadia Blockchain Group Corp. ("Cascadia" or the "Company") (CSE:CK.CN - News) is pleased to announce that Tilektes Adambekov, the regional Chief Executive Officer ("CEO") of Eurasia Blockchain Fintech Group Limited ("EBFG"), a wholly owned subsidiary of the Company, presented EBFG's plan to launch a cryptocurrency exchange platform to Mr. Kassym-Jomart Tokayev, President of the Republic of Kazakhstan at the Presidential Youth Staff Reserve Conference.
The government officials of Kazakhstan and 300 new members of the Presidential Youth Staff Reserve, selected from 13,000 candidates, attended the conference at the Ak Orda Presidential Palace. Mr. Adambekov was invited by Mr. Tokayev to give a speech about EBFG's plan to become the first licensed cryptocurrency exchange platform under the jurisdiction of Astana International Financial Center ("AIFC"). In his speech, Mr. Adambekov shared his view on development of the national cryptocurrency based on blockchain technology and explained how blockchain and decentralized technology play a key role in various sectors such as healthcare, banking, logistics, and security. After Mr. Adambekov's speech, the president provided positive feedback and stated that blockchain technology is of utmost importance for Kazakhstan.
"Kazakhstan is a blockchain friendly country. The Kazakh government is one of the first to announce plans of blockchain adoption in such fields as taxation, customs and cargo tracking. Our regional CEO at EBFG is one of the five finalists of the Presidential Youth Staff Reserve who was given the opportunity to speak at the conference. This shows our leadership and contribution in development in blockchain technology in Kazakhstan. EBFG has recently received a conditional FinTech License to operate a cryptocurrency exchange and provide custodian services under the brand of Eurasia International Blockchain eXchang ("EBX"). Our next step is to continue to finalize our system design of EBX and obtain approval from the government before commencing operations in a live environment and providing services to customers. Under the leadership of Mr. Adambekov, we are confident that EBX will be ready to launch in the first half of 2020", said Di Deng, the CEO of Cascadia.
Astana International Financial Center is the financial center of Central Asia, the Caucasus, EAEU, the Middle East, Western China and Europe. AIFC operates under English law and aims to develop financial markets. AIFC has a separate economic system with an independent judicial system based on common laws. It has relaxed foreign exchange control and capital environment. Companies incorporated under the jurisdiction of AIFC are entitled to 50 years of exemption from corporate, personal income, land and property taxes.
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SOURCE Cascadia Blockchain Group Corp.
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