The Securities and Exchange Commission (SEC) has confirmed that digital lending platform MocaMoca, operated by Copperstone Lending Inc., remains in good standing and fully authorized to operate in the Philippines — a key status validation as the regulator tightens oversight on the country’s online lending sector.
The SEC’s confirmation comes alongside the implementation of Memorandum Circular No. 20 (MC 20), Series of 2026, which officially lifted a nearly five-year moratorium on new online lending platforms (OLPs) while establishing a significantly stricter regulatory framework.
In its official advisory, the Commission stated that Copperstone Lending holds an active registration and is legally authorized to conduct lending operations, subject to ongoing compliance with the Financing Company Act, the Lending Company Regulation Act, and the Financial Products and Services Consumer Protection Act (FCPA).
A higher bar for online lenders
The regulatory environment for Philippine digital lenders has shifted noticeably with MC 20, which took effect on August 1. The circular introduces enhanced disclosure mandates, prudential safeguards, and stringent market-conduct rules designed to eliminate predatory practices across the industry.
When issuing the new guidelines, SEC Chairperson Francis Lim emphasized the regulator’s zero-tolerance stance on abusive lending behavior, noting that the updated framework aims to create a sustainable ecosystem where “legitimate businesses and Filipino consumers can thrive.”
For MocaMoca, which offers collateral-free micro-loans of up to ₱50,000, the heightened standards align with its existing operational model:
- Upfront fee transparency: Loan terms, interest rates, and total borrowing costs are fully disclosed before transaction finalization, eliminating hidden post-approval charges.
- ID-based digital verification: Onboarding relies on single government-issued ID verification to prevent identity theft and duplicate account creation.
- Fair debt collection practices: Collection workflows operate under fair-conduct standards compliant with the Truth in Lending Act.
Industry alignment and growth
“Our legal standing with the SEC reflects the same discipline we’ve built into MocaMoca from day one,” said David Balamon, CEO of Copperstone Lending Inc. “The new SEC rule formalizes much of what we were already practicing, and we see it as a validation of the direction that the industry needs to move in.”
Copperstone Lending has also continued its engagement with sector organizations, including the Fintech Philippines Association, to help shape consumer protection benchmarks across the broader ecosystem.
As the central bank and the SEC push for greater financial inclusion paired with stronger consumer safeguards, the lifting of the OLP moratorium under MC 20 is expected to weed out illicit operators while allowing compliant, tech-driven platforms to expand their reach among underserved Filipino borrowers.
