The revocation is noteworthy given that BEXPRESS, INC. was among the limited circle of only 19 entities in the Philippines holding a VASP license.
Bexpress, operating as Bexpress/Bexpro is a licensed virtual assets service provider (VASP) in the Philippines.
The responses of local exchanges fall in either of the three categories – full suspension of XRP trading, partial suspension, and no change in current policy.
The Philippine Central Bank approved 3 new companies that can legally process crypto to fiat transactions and vice versa.
The license from the Philippine Central Bank allows the company to legally engage in crypto to fiat transactions and vice versa.