The Bangko Sentral ng Pilipinas has updated its registry of Virtual Asset Service Providers, trimming two names from the list while changing the operating status of two others. The revised directory now shows six active non-bank VASPs, one inactive non-bank VASP, and two active bank VASPs under BSP supervision.
Latest BSP roster
In the updated list, the active non-bank VASPs are Betur Inc., which operates Coins.ph, Maya Philippines, Inc., Moneybees Forex Corp., Philippine Digital Asset Exchange, TopJuan Technologies Corporation, and WIBS PHP, Inc.
The BSP also lists one inactive or non-operational non-bank VASP: Direct Agent 5, identified in the registry by the trade name SurgePay mobile app.
Among banks, the active VASPs named by the central bank are GoTyme Bank Corporation and Union Bank of the Philippines, Inc.
Firms no longer listed
Two companies that appeared in earlier BSP records are no longer included in the latest VASP directory: Bloomsolutions, Inc., known as BloomX, and XenRemit, Inc. The source article reports only that the firms were excluded from the updated roster and does not state a reason for their removal.
The change narrows the central bank's current published list of supervised VASPs and highlights a reshuffle among previously registered non-bank entities.
Status changes within the registry
The revised BSP directory also reflects changes for two companies that remain tied to the registry. WIBS PHP, Inc. has been reclassified from inactive to active status as a non-bank VASP.
Direct Agent 5 moved in the opposite direction, shifting to inactive status in the central bank's listing. The company is associated in the registry with the SurgePay mobile app.
Background on BloomX and XenRemit
Bloomsolutions, Inc. previously operated as a licensed Philippine crypto exchange under the BloomX brand, focusing on over-the-counter trading and remittance services. In July 2023, the BloomX app was shut down as the company refocused on its core OTC and remittance business.
XenRemit, Inc. was added to the BSP's VASP roster in April 2023 under the Xendit Group. The company also holds a Certificate of Registration as a Remittance and Transfer Company, separate from its former VASP status.
The latest BSP update provides a snapshot of which virtual asset firms and banks are currently shown as active or inactive in the regulator's published directory. While the revised list confirms who is presently included, it does not by itself explain why BloomX and XenRemit were removed or whether any further regulatory action is connected to the change.
Source: bitpinas.com