List of Licensed VASPs (Virtual Currency Exchanges) in the Philippines

Disclaimer: This article is for informational purposes only and does not constitute financial advice. BitPinas has no commercial relationship with any mentioned entity unless otherwise stated.

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Updated:

October 29, 2025: The list is updated according to the October 15, 2025, database of BSP. Removed ABA Global Philippines, Inc. (Coex Star).
July 23, 2025: The list is updated according to the May 15, 2025 database of BSP. Removed ETranss (GOW Exchange).
October 22, 2024: 2024 update removes firms no longer on the BSP list while adding a new one.
December 8, 2023: Removed Bexpress and Coinville in the licensed list
November 29, 2023: We updated the list on the heels of the news that SEC has issued an advisory vs Binance and has mentioned working with the NTC to keep unregulated exchanges off the Philippines.
June 15, 2023: Updated to reflect new BSP listings.
February 28, 2023: Removed Novi and included Direct Agent 5 and XenRemit Inc.
September 20, 2022: Added Philbit and Frenetic.
February 7, 2022: Included Novi Philippines Inc. and PayMaya Philippines, Inc.
October 2020: Included new VCEs announced.
March 2020: Included Moneybees.
October 2019: Included ABA Global’s COEXSTAR Platform.
August 7, 2019: Added 2 new licensees, Telcoin and Atomtrans.
June 6, 2019: Added Bitan Moneytech.
April 10, 2019: Added new companies – Coinville and ABA Global Phils.
March 11, 2019: Added a new exchange – Bexpress.
December 3, 2018: Included the proper name of Etranss’ exchange.
October 31, 2018: Included Zybi Tech and PDAX’s “institution name” on BSP’s list.
September 12, 2018: Included PDAX.
July 13, 2018: Updated to include the correct website of Virtual Currency Philippines Inc.

The Virtual Asset Service Provider (VASP) license allows businesses in the Philippines to operate and deal with crypto to fiat and fiat to crypto transactions. It is granted by the Bangko Sentral ng Pilipinas (BSP).

This license was formerly under the “Guidelines for Virtual Currency Exchanges,” or BSP Circular No. 944, Series of 2017. It is now under the “Guidelines for Virtual Asset Service Providers,” or the BSP Circular No. 1108 Series of 2021.

The update in regulation was said to make it more inline with the rules and recommendations of the Financial Action Task Force, a global anti-money laundering body.

Read More: How to get a VASP license in the Philippines

In August 2022, the BSP has imposed a ban on all VASP applications for the next three years. The ban is said to be lifted on September 1, 2025.

However, in a memorandum dated August 20, 2025, the BSP said it has extended its moratorium on the issuance of new licenses for VASPs, adding that the decision was based on continuing concerns over consumer protection and cybercrime. The moratorium will remain in effect beginning September 1, 2025, subject to reassessment based on local and global developments.

List of Licensed VASPs in the Philippines

*Take note that the license coming from the BSP covers the conversion of crypto to fiat and vice versa. This license does not cover operating order-book style exchange. This list is also in alphabetical order.

Betur, Inc.

Photo for the Article - List of Licensed Virtual Asset Service Providers in the Philippines (Updated October 2025)

Doing business under the name of: Coins.ph
Website: https://coins.ph/
BSP License Granted on: September 2017
Category: Non-Bank VASP
Status: Active
CEO/President: Wei Zhou
Contact Information: compliance@coins.ph

Bloomsolutions, Inc.

Doing business under the name of: Bloom Solutions / BloomX
Website: https://www.bloom.solutions/
BSP License Granted on: May 2018
Category: Non-Bank VASP
Status: Active
CEO/President: Israel Philip Keys
Contact Information: israel@bloom.solutions

Direct Agent 5

Doing business under the name of: SurgePay / DA5
Website: https://da5.com.ph/
BSP License Granted on: January 2023
Category: Non-Bank VASP
Status: Active
CEO/President: Raymond A. Babst
Contact Information: info@da5.com.ph

GoTyme Bank Corporation

Doing business under the name of: GoTyme Bank
Website: https://www.gotyme.com.ph/
BSP License Granted on: October 2024
Category: Bank VASP
Status: Active
CEO/President: Nathaniel Clarke
Contact Information: compliance@gotyme.com.ph

Maya Philippines, Inc.

Doing business under the name of: Maya
Website: https://www.maya.ph/
BSP License Granted on: December 2021
Category: Non-Bank VASP
Status: Active
CEO/President: Shailesh Baidwan
Contact Information: compliance@maya.ph

Moneybees Forex Corp

Doing business under the name of: Moneybees
Website: https://www.moneybees.ph/
BSP License Granted on: 2020
Category: Non-Bank VASP
Status: Active
CEO/President: Jay Ricky B. Villarante
Contact Information: support@moneybees.ph

Philippine Digital Asset Exchange (PDAX)

Doing business under the name of: PDAX
Website: https://pdax.ph/
BSP License Granted on: September 2018
Category: Non-Bank VASP
Status: Active
CEO/President: Nichel Merlmichael O. Gaba
Contact Information: compliance@pdax.ph

PDAX powers GCrypto, the spot crypto trading feature of e-wallet giant GCash.

TopJuan Technologies Corporation

Doing business under the name of: TopWallet
Website: https://topwallet.ph/
BSP License Granted on: No available information
Category: Non-Bank VASP
Status: Active
CEO/President: Karl Basil Coelho
Contact Information: kcoelho@topjuan-tech.com
BitPinas Articles: Click Here

Union Bank of the Philippines, Inc.

Doing business under the name of: UnionBank
Website: https://www.unionbankph.com/
BSP License Granted on: September 2023
Category: Bank VASP
Status: Active
CEO/President: Edwin R. Bautista
Contact Information: No email address available

WIBS PHP, Inc.

Doing business under the name of: WIBS and DO PAY
Website: https://wibs-php.com/
BSP License Granted on: No Available Information
Category: Non-Bank VASP
Status: Inactive/Not Operational
CEO/President: Toshiro Togawa
Contact Information: togawa-zyv9feun@wibs-php.com

XenRemit, Inc.

Doing business under the name of: Xendit
Website: https://www.xendit.co/en/
BSP License Granted on: January 2023
Category: Non-Bank VASP
Status: Active
CEO/President: Christian Xavier F. Reyes
Contact Information: christian.reyes@xendit.co

Zybi Tech, Inc.

Doing business under the name of: JuanCash
Website: https://www.juancash.com/
BSP License Granted on: 2018
Category: Non-Bank VASP
Status: Inactive/Not Operational
CEO/President: Raymond Ong
Contact Information: rmariano@zybitech.com

Companies With Revoked/Cancelled Licenses

Aba Global Philippines, Inc.

Doing business under the name COEX STAR, it is a cryptocurrency exchange platform operated by ABA Global Philippines, Inc., which had its license as early as March 2019.

It officially launched in October 2019, COEX STAR offered a PESO market that supported trading for major cryptocurrencies such as BTC, ETH, LTC, BCH, BTG, XRP, QTUM, RVN, EOS, ENJ, and TRX.

Following disruptions caused by the COVID-19 pandemic, the exchange temporarily halted operations in 2020, but later resumed with additional trading pairs.

In August 2022, COEX STAR held a relaunch event at Bonifacio High Street, Taguig, which highlighted its plans to expand services, enable cross-border remittances for Overseas Filipino Workers, and integrate blockchain solutions in sectors such as agriculture, livestock, and fisheries.

However, until the May 15, 2025, data of BSP, COEX STAR is tagged as an inactive/non-operational non-bank VASP.

The exchange’s website is also now inaccessible.

ETranss (GOW Exchange)

GOW Exchange is the digital currency trading platform whose subsidiary – Etranss – is the owner of the BSP virtual currency exchange license.

GOW Exchange differentiates itself by positioning to provide service to institutional investors that want to convert fiat and cryptocurrencies. It claims to reduce OFW remittance costs by up to 98%.

ETranss received its license last July 2018.

Website: https://www.gow.com/

Appsolutely (LoyalCoin)

Last November 2020, Appsolutely Inc. received approval for their request to operate as a Remittance and Transfer Company (RTC) with Virtual Currency Exchange (VCE) Service. It is the Philippine partner of LoyalCoin, a blockchain-based rewards system where users earn points from participating merchants, with these points redeemable for use to any other merchants’ products within its ecosystem.

Website: https://appsolutely.ph/

In a 2023 update, the BSP tagged Appsolutely as an inactive and non-operational VASP.

Atomtrans Tech

Status: Inactive – stopped operations in January 2022.

In a job posting, Atomtrans Tech is composed of a team of executives and blockchain technologies from a group of professional payment agencies with over 30,000 hours of cross-border payments and international remittances. The page also claims that the company has trading service centers in the Philippines, Japan, and other places.

From its company page, it says it has a cooperation agreement with China UnionPay as well as a partnership with Unionbank. BitPinas talked to UnionBank confirming that Atomtrans has an account with them, but clarifies that that’s the extent of their relationship.

In 2021, Atomtrans had a partnership with London-based blockchain technology company Coinfirm which is focused to strengthen the security and transparency of locally licensed exchange.

In a 2023 update, the BSP tagged Atomtrans as an inactive and non-operational VASP.

Website: https://www.atcex.ph/

Bexpress (Bexpro)

Bexpress.ph is a crypto trading platform headquartered in Paranaque City. They formally received their licensed on March 11, 2019. B-Express mentioned to BitPinas that it offers a trading platform for buying and selling of Bitcoin, Ethereum, XRP, etc. They also have a mobile app called Bexpress Pro.

BSP canceled the licensed of Bexpro in September 2023, announced in Dec. 2023.

Website: https://bexpro.ph/

Bitan Moneytech

The Central Bank included Bitan MoneyTech in its list of licensed virtual currency companies on March 31, 2019. Bitan MoneyTech aims to cater to “veteran traders while making sure that their trading platform is simple enough for beginners.”

With regards to the user’s funds. Bitan said it will store the majority of the digital asset in a “highly secure office offline wallet backed by insurance”.

As of October 2020, Bitan was removed by the BSP from its licensed VCE list.

Website: https://www.bitanmt.com

Coinville

Status: Incactive – stopped operations in October 2022.

The BSP announced last March 2019 that Coinville Phils Inc received its license as a virtual currency exchange. The company is engaged in foreign exchange dealing/money changing and or remittance business. They also act as a foreign dealer, money changer, or remittance agent, in accordance with the guidelines from the BSP.

In December 2023, BSP announced it canceled the license of Coinville.

Website: https://coinvil.ph/

Finchain Technology Inc (FTI)

In a statement sent to BitPinas, FTI is focused on building a blockchain ecosystem that includes a cryptocurrency exchange, a cryptocurrency payment, remittance, and lending. It received its provisional VCE license in February 2020. The company promised to send more information when it’s ready.

Frenetic Inc

In an article from the Manila Times, Frenetic is expected to launch its web3 platform and digital asset exchange.

I-Remit Inc

Status: not operational

I-Remit or IRemit is in the business of fund transfer and remittances with a focus on servicing Overseas Filipino Workers. It started commercial operations in 2001.

The company has multiple auxiliary services and has wholly-owned subsidiaries like I-Remit Australia and I-Remit Japan. As of December 2019, it operates in 23 countries.

I-Remit received its electronic money issuer license in 2019 and its VCE license in 2020.

Website: https://iremitx.com/

In a 2023 update, the BSP tagged I-Remit as an inactive and non-operational VASP.

Philbit Money Changer and Remittance Services Inc (PHILBIT)

Status: Inactive

According to its website, Philbit plans to have its own mobile application that allows trading of 850 global digital currencies.

In a 2023 update, the BSP tagged Philbit as an inactive and non-operational VASP.

Philippine Digital Financial Assets Exchange Inc

To be updated. We are requesting the company about its website, logo, and other details. (Not to be confused with Philippine Digital Asset Exchange or PDAX, which is owned by Fyntegrate.)

Rebittance, Inc. (SCI Ventures)

Rebittance, Inc. is a wholly-owned subsidiary of Satoshi Citadel Industries (SCI or SCI Ventures). It is one of the pioneer blockchain companies in the Philippines. The company operates the following products:

BuyBitcoin.ph – Bitcoin buy and sell website
Bitbit – Peso and Crypto wallet
Rebit – Remit money to the Philippines using Bitcoin
Citadax – Cryptocurrency Exchange

Rebittance received its license last October 2017.

The company is currently not in operation.

Official Website: https://sci.ph/

Telcoin

Telcoin operates a mobile wallet that allows transfer of money anywhere. Telcoin is also a cryptocurrency based on Ethereum with the intention of being accepted by Telco operators, with a partnership with mobile telco smart seemed to have pushed through under the radar. The wallet is available on the App Store and Google Play.

As of October 2020, Telcoin was removed by the BSP from its licensed VCE list.

Website: https://www.telco.in/

Virtual Currency Philippines, Inc.

Virtual Currency Philippines Inc (VCPI) made the announcement of launching in the Philippines last February 2018 (Check this video.) The digital currency exchange supports Bitcoin, Ethereum, and other tokens. It is already live, a launch event was attended by BitPinas where the company announced a partnership with Ecpay and NEM Philippines.

As of December 2020, Telcoin was removed by the BSP from its licensed VCE list.

Official Website: https://vhcex.com

Novi Philippines Inc

Novi is a digital wallet under Facebook’s parent company Meta specializing in international money transfers and remittances which helps people send and receive money “instantly, securely, and with no fees.” Novi uses USDP (Pax Dollar), a stablecoin digital currency, for its operations.

Novi Philippines, Inc. received their license last December 31, 2021. It was removed from the list in December 2022.

Website: https://www.novi.com

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According to the Bangko Sentral ng Pilipinas’ (BSP) Director Chuchi Fonacier, there are more than two dozen companies seeking to have a virtual currency exchange license. All of which are in different stages of approval.

Editor’s Note: If you are a licensed VC exchange in the Philippines but not yet included in this article, please ping us over email or via telegram. Also, you are welcome to let us know any updates about your company, licenses, etc. Everything mentioned in this article is based on public-facing documents and releases, such as press releases from the BSP and confirmed information from the head of the exchanges themselves.

This article is first published on BitPinas: List of Licensed Virtual Currency Exchanges in the Philippines.

List of Licensed Virtual Asset Service Providers in the Philippines (Updated October 2025)

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