Where we stand with the Bank of Papua New Guinea.

What is being licensed

The BM wallet — the kina stored-value account that Konekt, WanBung and the other BM apps share — is e-money, and issuing e-money in Papua New Guinea requires a licence from the Bank of PNG. That application is the one in progress. Until it is granted, we describe the wallet as e-money with licensing in progress, never as licensed.

What is not affected

Paying by BSP Pay at a checkout is a bank payment between you and BSP; BM Pay passes it through and records it. Buying hardware in the store, and using the apps with BSP Pay or cash at an agent, do not depend on the e-money licence.

On-chain products

PNGx and Invest Antap are separate, clearly marked programmes built on Solana. Holding crypto is not prohibited in PNG; exchanging it for kina is the regulated activity, which is why the kina ramp in those products opens only once the relevant licensing is in place. The kina stablecoin is a proof-of-concept designed for review with the Bank of PNG; no stablecoin has been issued.

How we operate in the meantime

• Customer money paid online goes through BSP Pay and is reconciled daily by BM staff from BM Dash.
• Every app signs in with a phone number and a one-time code; staff actions on money are two-person and audited.
• We publish honest status on every page: what is live, what is a pilot, what is still in build.

Complaints

If something has gone wrong with a payment or a wallet balance, WhatsApp +675 7947 6876 or email contact@blockchainmelanesia.com with the app, your phone number and the date. We reply from a real inbox, and we keep a record of every complaint and how it was resolved.