FAST COIN LENDING CORP.
FAST COIN LENDING CORP. is a financial institution holding a valid OLP license (CA No. 3140) issued by the Philippine Securities and Exchange Commission (SEC), specializing in compliant personal credit services. Leveraging BSP-certified risk management technology.
FAST COIN entrusts Moonpie to develop, publish, a personal cash loan application named "Coco Peso" on Google Play.
Authorized Business Scope
- Moonpie shall solely act as an agent to publish and operate the "Coco Peso" application on Google Play. FAST COIN retains full operational control of the app, including providing unsecured personal cash loans to Philippine residents with a minimum term of 3 months and a maximum APR of 30%.
- Prohibited Activities: Credit card debt consolidation, corporate loans, cross-border lending, and cryptocurrency-related services.
Rights and Obligations
Obligations of FAST COIN
Provide SEC registration certificates and compliance documents as required.
Conduct quarterly reviews of loan pricing, collection records, and user complaint data.
Monitor Moonpie’s compliance with the Truth in Lending Act (RA No. 3765) and SEC regulations.
Obligations of Moonpie
Legally publish and operate the application
- Strictly adhere to FAST COIN’s guidelines during development, publication, and operation.
- Ensure compliance with Philippine laws and regulatory requirements.
Data Management
- Store user data exclusively on servers located within the Philippines (server addresses must be disclosed and registered).
- Prohibit unauthorized collection of user personal information.
Disclaimer
FAST COIN shall not be liable for:
- Complaints or penalties arising from Moonpie’s unauthorized publication or operation of the application.
- Technical failures of "Coco Peso" preventing normal publication or operation.
Moonpie shall purchase at its own expense:
- Cybersecurity insurance with coverage ≥ PHP 10,000,000.
- Professional liability insurance covering data breach disputes.