The Central Bank of the Philippines issued a circular letter to all BSP-supervised financial institutions notifying them that the Monetary Board has affirmed with finality the cancellation of ABA Global Philippines, Inc., operating under the trade name Coex Star, Inc.’s certificate of registration to operate as a remittance and transfer company. The cancelled registration covered a Type “B” remittance agent with virtual currency exchange services, now referred to as virtual asset service provider services, under Section 902-N in relation to Section 901-N of the Manual of Regulations for Non-Bank Financial Institutions, as affirmed in Monetary Board Resolution No. 928 dated 18 September 2025.
Central Bank of the Philippines 2025-10-27
Central Bank of the Philippines confirms final cancellation of Coex Star’s registration as a remittance agent and virtual asset service provider
The Central Bank of the Philippines announced the Monetary Board's final decision to cancel ABA Global Philippines, Inc.'s registration to operate as a remittance and transfer company. This cancellation affects its Type “B” remittance agent status with virtual asset service provider services, as per the Manual of Regulations for Non-Bank Financial Institutions.