Tian Xu Loses Its Cambodia Payment Licence: What CoolCash Customers Know

The licence ended on 3 August and a liquidator now handles the wind-down

NBC appointed Morisonkak MKA Audit-Accounting as liquidator under Article 68 of Cambodia’s Law on Banking and Financial Institutions. The firm is responsible for the liquidation process, while repayments to Tian Xu customers are to follow the priority rules set by law.

The available notice does not give all customers one repayment date, nor does it state a single reimbursement amount that applies across accounts. These are separate issues because liquidation is a claims process: the existence of a balance does not by itself establish when the customer will receive funds.

**CoolCash had already asked users to withdraw funds in July**

Before the licence was formally revoked, Tian Xu issued a 24 July notice to CoolCash agents, merchants and customers with account balances. It asked them to apply for withdrawals and account closure by 30 July. Those who had not completed the process were directed to the company’s Phnom Penh head office on working days with valid identification and supporting documents, while late cases were said to follow a separate procedure.

Those instructions pre-date the 3 August licence revocation and the appointment of the liquidator. They should therefore not be treated as proof that the same route remains the current claims process. Customers who still have funds at stake would be better served by keeping balance records, transaction histories and copies of earlier applications while checking the latest procedure issued by the liquidator or NBC.

For practical context, see Cambodia economy and finance. This development also connects with Cambodia’s NBC revokes licences of three commercial banks.

The central bank did not publish a specific reason for the revocation

NBC said the decision was taken under applicable laws and regulations but did not publicly identify a specific reason for revoking Tian Xu’s licence. Other developments reported around the company should not be presented as NBC’s stated basis for the decision unless the regulator confirms that link.

For affected users, the confirmed position is narrower: the licence is revoked, the company is in liquidation, and repayment is subject to that process. There is currently no general deadline in the cited notice that guarantees when every customer will be paid.