Lyka

The Bangko Sentral ng Pilipinas (BSP) has ordered social media platform Lyka to stop its operations as an Operator of Payment System (OPS). Lyka is a digital community in which users share their interests by posting a photo or a video. Also, every time a Lyka user engages with other people’s posts, both parties will earn a certain amount of GEMS. “It has come to our knowledge that Lyka, a social media platform launched in the Philippines by a Hong Kong-based company, allows its users to purchase, exchange, and use Gift cards in Electronic Mode or GEMs as payment for goods and services,” said BSP Governor Benjamin Diokno at a virtual press briefing, in a report by GMA News. With that said, Diokno mentioned that the central bank ordered Lyka to suspend its activities as an OPS, urging them to register first. The suspension of Lyka’s OPS operations is in accordance with the Republic Act No. Meanwhile, Diokno also revealed that the operators of Lyka have already expressed their willingness to register with the BSP as an OPS. OPPO Blast will be available for game preview on Lyka Games for a limited period. Read more in our articles including "BSP orders Lyka to stop operations as OPS, urges registration" and "OPPO, Mineski Philippines launch OPPO Blast mini mobile game".