Operating Entity Behind XiaoYi Pay CoolCash Has License Revoked by Cambodia's Central Bank Over Prince Group Case

TechFlow reported on Sept. 14 that, according to the Cambodia-China Daily, the Cambodian central bank (National Bank of Cambodia) issued a notice revoking the payment license of Tian Xu International Technology Plc., the operating entity behind the payment platform CoolCash (XiaoYi Pay). The license was issued on May 27, 2024, and was originally valid until 2030.

According to available information, in March this year, Tian Xu International Technology and its director Pang Weizhi were added to the UK sanctions list. Pang Weizhi concurrently serves as a director of the parent company of WOWNOW. British authorities believe he has ties to the Prince Group and suspect him of providing financial, funding, material, and technical support to the group.