It is becoming well known among the crypto community that endorsements and new startups involving celebrities from music and sport are on the rise, but this time it’s an odd combination of ex-boxer newly-turned politician who’s dipped into cryptocurrency.
Enter Philippines Senator and one-time world boxing champion Manny Pacquiao who is to make a gloves-off fighting appearance for crypto at the upcoming Blockchain Fair Asia event to be held in his home country.
In March, not simply happy with procuring ex-England and Liverpool footballer Michael Owen, Singapore-based Global Crypto Offering Exchange (GCOX), scored another goal, this time signing a boxer to promote the exchange. Since then, Pacquiao has gone on to launch his own PAC Coin and plans to promote the coin at the event in Manila, very much in keeping his government’s own approach to cryptocurrency, which has largely been supportive.
Since 2016, the ex-boxer has been serving as a member of the Philippines House of Representatives. As a member of the Senate, he would recognize that blockchain is becoming a fast-growing industry in the Southeast Asian country with a regulator-friendly background. The Philippines has long been a magnet to foreign investment, as illustrated by its construction of Special Economic Zones (SEZ).
The blockchain buzz in the country also extends to government level with the Department of Finance (DoF), the Bureau of Internal Revenue (BIR) and the Securities and Exchange Commission (SEC), all integrating blockchain solutions into their programs.
Global business head of ConsenSys in Asia, Aiai Garcia, sees the Philippines as the next tech sandbox in Asia, suggesting:
“This is indeed a very exciting time for the Philippines blockchain industry. There are plenty of exciting projects, and the good thing is that all the regulators we’ve talked with or are talking to are also excited about the technology and looking for ways to adopt and use blockchain to improve the current system.”
Pacquiao’s investment in GCOX has, in turn, has given him the possibility to create the new coin. The platform is supported by a number of other celebrities who have also created their own tradable tokens, building on their previous popularity in the world of sport or music.
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