The central bank of the Philippines, Bangko Sentral ng Pilipinas (BSP), has so far approved 16 cryptocurrency exchange service providers in total. The latest list of “Remittance and transfer companies (RTC) with virtual currency (VC) exchange services” shows four recently-approved cryptocurrency exchanges. They are Finchain Technology Inc., Iremit Inc., Moneybees Forex Corp., and Wibs PHP Inc.
The four join 12 existing crypto exchanges previously approved by the BSP: Aba Global Philippines (Coexstar), Atomtrans Tech, Betur (dba Coins.ph), Bexpress, Bloomsolutions (Bloomx), Coinville Phils, Etranss Remittance International, Fyntegrate (dba Philippine Digital Asset Exchange or PDAX), Rebittance (Rebit, Buybitcoin.ph), Telcoin, VHCEX, and Zybi Tech (dba Juancash). News.Bitcoin.com previously reported that there were 13 approved crypto exchanges in the Philippines. However, Bitan Moneytech has been delisted as of June 30 and is no longer on the above BSP-approved list.
The BSP established a formal regulatory framework for crypto exchanges in its Circular No. 944 dated Feb. 6, 2017. Crypto exchanges are required to register with the BSP as remittance and transfer companies. read more