CoolCash Parent Company License Revoked and Liquidation Initiated

The National Bank of Cambodia has revoked the payment service provider license of Tianxu International Technology, the parent company of the payment platform CoolCash. The company and its director, Pang Weizhi (Pang Visal), were sanctioned by the UK government in March due to alleged ties to the Prince Group, which is accused of operating scam centers involving forced labor. The license, issued in May 2024, was officially revoked on August 3. The National Bank of Cambodia has appointed Morrison Kak MKA as the liquidator to manage the company's assets and facilitate the return of funds to customers in accordance with the Law on Banking and Financial Institutions.