ARGO Global Servicing was recognized as one of the five Financial Institutions Strategic Transfer Corporations (FISTCs) in the Philippines

We are proud to announce that ARGO Global Servicing was recognized as one of the five Financial Institutions Strategic Transfer Corporations (FISTCs) in the Philippines.

Since the enactment of FIST Act(RA No. 11523) last February 2021. FIST Act aims to aid in the country’s economic recovery from the dire effects of the COVID-19 pandemic by allowing the transfer of non-performing assets of Financial Institutions to Financial Institutions Strategic Transfer Corporations (FIST Corporations). This in turn frees up liquidity of the Financial Institutions such as banks to enable them to maintain their financial health and cushion the adverse economic impact of COVID-19. More details here: https://www.dof.gov.ph/5-fist-corporations-set-up-since-laws-enactment-in-q1/

Securities and Exchange Commission advised against dealing with unregistered cryptocurrency exchanges. By Philippine law, an entity is required to register with the SEC if they intend to conduct business in the Philippines. SEC is the registrar and overseer of the Philippine corporate sector; it supervises more than 600,000 active corporations and evaluates the financial statements (FS) filed by all corporations registered with it. SEC also develops and regulates the capital market, a crucial component of the Philippine financial system and economy. More details here: https://www.sec.gov.ph/advisories-2022/unregistered-cryptocurrency-exchanges/