On 28 October 2025, the Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) affirmed its decision to cancel the Certificate of Registration of ABA GLOBAL PHILIPPINES, INC., a company operating under the trade name COEX STAR.

The decision was finalised in Resolution No. 928, dated 18 September 2025. The BSP is revoking the company’s licence to operate as a Remittance and Transfer Company.

This licence also included a Type “B” Remittance Agent with Virtual Currency Exchange service. The BSP now formally refers to this service type as a Virtual Asset Service Provider (VASP).

VASPs are entities that the central bank authorises to facilitate the exchange of virtual assets. It includes cryptocurrencies, for traditional fiat currency, as well as the trading and transfer of these digital assets.

The Monetary Board based its decision on specific sections of the Manual of Regulations for Non-Bank Financial Institutions.

The Monetary Board made the cancellation pursuant to Section 902-N, in relation to Section 901-N of the manual.

The cancellation means that ABA GLOBAL PHILIPPINES (COEX STAR) is no longer an authorised entity under the BSP’s supervision for remittance or virtual asset services.

This action is part of the central bank’s ongoing oversight of the financial industry. It includes the growing digital asset sector, to ensure compliance with regulations and to protect consumers.

The BSP maintains a public registry of all authorised VASPs for public guidance.

If you want to know more, here is the updated full list of the Licensed Cryptocurrency Exchanges that is available in the Philippines.

Featured image by fabrikasimf via Freepik.