search the following

1. If there is already a VASP-registered entity

2. Read about EMI, VASP, MORNBFI

3. Diagram of the VASP Application (which BSP department handles the application?)

4. Make a folder (Green folder)

5. What is the primary purpose of the EMI and VASP in the SEC registration? (because BSP endorsement
is required)

6. Request for SEC Docs (Latest AOI, By-laws, GIS) of GCash, Paymaya, and ECPay

List of Firms With Both VASP and EMI

Licenses in the Philippines

The Banko Sentral ng Pilipinas (BSP) is the government body that issues the virtual asset service
provider (VASP) and the electronic money issuer (EMI) licenses to firms and companies in the country to
regulate and safeguard the consumers who use these kinds of businesses in transacting.

With seventy-one EMI (as of April 20, 2022) and nineteen VASP licensed firms (as of June 30, 2022)
based on the latest documentation from the BSP, which of them both have VASP and EMI licenses?

(Also check out the list of firms with VASP license and list of companies with EMI license.)
Disclaimer: This is not financial advice. The article aims to inform the readers of the companies and
firms with licenses to operate in the country. Do due diligence in researching these institutions before
investing or using their services.

Table of Contents. [hide]

1 i-Remit, Inc

2 Coins.ph

3 PayMaya Philippines, Inc.

4 Philbit Money Changer and Remittance Services, Inc. (PHILBIT)

5 PDAX

6 TopJuan Technologies Corporation

7 WIBS PHP, Inc.

8 Zybi Tech, Inc

i-Remit, Inc
I-Remit or IRemit is a Filipino-owned non-bank remittance service provider. Based on their website
they are the only remittance service provider on the Philippine Stock Exchange and they aim to be a
bridge to overseas Filipino workers to their families through their platform.

The company is headed by Harris D. Jacildo, Chairman and President, and Ben C. Tiu, Vice Chairman and
CEO..

I-Remit received its EMI license in 2019 and its VASP license in 2020.

Website: https://iremitx.com/
Coins.ph
Looking at Coins.ph user agreement page, when the user is using its virtual currency wallet, the user is
bound by “Betur Inc. User Agreement.” When using the Coins.ph Philippine Peso Wallet, the user is
bound by “DCPAY User Agreement.”

DCPay Philippines has an EMI License. While Betur Inc has a VASP license.

PayMaya Philippines, Inc.

Maya Bank recently announced it has reached 650,000 customers and ₱5 billion-worth of deposit after
securing the approval of the BSP to operate as a digital bank.

The main Maya app has more than 44 million users.

Maya integrated buying and selling of cryptocurrencies on their mobile platform last April 2022 which
started with ten cryptocurrencies and currently has nineteen on their list.

PayMaya Philippines, Inc. received its VASP license last December 31, 2021 and EMI license in 2018.
Philbit Money Changer and Remittance Services, Inc.
(PHILBIT)

Philbit Money Changer and Remittance Services, Inc. (PHILBIT) aims to use e-money for its users to be
able to pay bills and government transactions using their platform online.

PHILBIT is a cryptocurrency exchange as well. It has the following cryptocurrencies: BTC, ETH, LTC,
DASH, EOS, BCH, BTG, RVN, CXAT, STRAT, STEEM, XLM, XRP, QTUM, and TRX.

PHILBIT received its VASP license last March 31, 2022.

PDAX
PDAX (Philippine Digital Asset Exchange) is a cryptocurrency trading platform. Currently, it has 35
cryptocurrencies for users to buy, sell, and store.

PDAX received its VASP license last September 2018. Website: https://pdax.ph/

TopJuan Technologies Corporation

TopJuan Tech Corporation (TTC) or TopWallet is a blockchain-enabled mobile wallet. It claims that
customers’ data are secured by an end-to-end military-grade encryption protocol.

With its Electronic Money Issuer (EMI) and Virtual Asset Service Provider (VASP) licenses from the
Bangko Sentral Ng Pilipinas (BSP) users can transact digitally using their platform. Customers can also
buy and sell cryptocurrencies and fiat.

Website: https://topwallet.ph/
WIBS PHP, Inc.
WIBS PHP Inc. was founded on October 26, 2018. As per its website, WIBS PHP says it
provides its users with electronic payment services and a virtual currency exchange depending on
its users’ preferences.

Website: http://www.wibs-ph.com/

Zybi Tech, Inc

Zybi Tech (Doing Business under the name and style of Juan Cash) A mobile wallet which can be
downloaded through Apple App Store and Google Play Store. Juan Cash can also be used to remit
money to China and other countries. It also promotes having resellers to expand their business to
remote areas in the country.

Zybi Tech, Inc. received its VASP license in 2018

Website: https://www.juancash.com/

Recently, Global exchange Binance will push through with acquiring a virtual asset services provider
(VASP) and electronic money issuers (EMI) licenses by acquiring a local company, Binance Philippines
General Manager Kenneth Stern stressed during a roundtable with the media that was also attended by
BitPinas. (For more information, read Binance PH to Acquire a Single Firm That Has Both BSP VASP and
EMI Licenses)
This article is published on BitPinas: List of Philippine Financial Institutions Both VASP and EMI Licenses