Bangko Sentral ng Pilipinas (BSP) recently included PayMaya and Facebook’s Novi on Virtual Asset Service Providers (VASPs) list. This means they are authorized to offer services or activities to transfer or exchange virtual assets (VAs). 

This totals 18 institutions with BSP’s VASP license as of December 31, 2021. Beside PayMaya and Novi having the BSP VASP license. Other institutions include MoneyBees Forex, Coinville, and i-Remit, among others. 

Now Facebook’s digital currency wallet, Novi, would soon provide virtual assets with its goal to help people send and receive money abroad instantly. While it is initially available in Guatemala and the US, having a BSP VASP license suggests it’s only a matter of time to make it available in the Philippines. 

Meanwhile, PayMaya has a Philippine Digital Asset Exchange (PDAX) to offer as virtual assets to its customers. 

Virtual assets or currencies under VASP include Bitcoin, Ethereum, Ripple, and e-wallets.

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