I'm assuming that the local exchanges you are saying is in the Philippines right? Because I read that they have plans to open 20+ for now and then 60 in the next coming years. That's a lot of local exchanges. Even locals coins.ph now have its own trading platform so everything looks good in the Philippines. In a wider perspective, it only means that there's recognition that bitcoin and crpyto will really exploded in the next 5 years or so because of the continuous growth of crypto money. People now finds crypto a safe haven for their money investment wise or even grow their money doing trading. However, competition will be tough in this area, because some well known exchanges have a good head start and those planning to enter the field will have their hands full on how to get some slice on that big pie, a multi-billion dollar industry.