A member of the advisory team for India and Southeast Asia of Sequoia Capital Operations LLC, which is reportedly being sued over the FTX collapse, is drumming up Boracay as the haven for Bitcoin.
According to Augustus Ilag, Boracay has the potential to revolutionize the remittance market using the Bitcoin Lightning Network.
“Many foreigners come to Boracay and have a unique need to convert their home currency into domestic currency but do not have access to local e-money providers,” Ilag said. During the first Bitcoin Island Retreat, panelists Jack Lee of HCM Capital Management AG, Louis Liu of Mimesis Capital Partners LLC, and Mike Jarmuz of Lightning Ventures Inc. showed their bullish stance towards Bitcoin.
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