BSP Removes Two Firms From Registered VASP List

The Bangko Sentral ng Pilipinas (BSP) has updated its directory of registered Virtual Asset Service Providers (VASP), removing two firms from the list. The BSP now lists six active non-bank VASPs, one inactive non-bank VASP, and two active bank VASPs operating under central bank supervision.

The removed entities are Bloomsolutions, Inc. (BloomX) and XenRemit, Inc., a subsidiary of Xendit Group. BloomX previously operated as a licensed Philippine crypto exchange specializing in over-the-counter (OTC) trading and remittance services, but announced the closure of its retail-focused app in July 2023.

BSP's updated VASP list reflects changes in the market, with WIBS PHP, Inc. being reclassified from inactive to active non-bank VASPs.