KOROR, Palau (Sept. 8, 2025) — Palau authorities are warning the public to be cautious of a company called BOEX, which claims to have launched operations in the country but is not legally registered or authorized to do business.
The Bureau of Revenue and Taxation, the Foreign Investment Board, the Office of the Corporate Registrar, the Digital Residency Office, and the Financial Intelligence Unit issued a joint statement Monday saying BOEX has not complied with Palau’s laws governing business activity.
“BOEX is not a registered entity in the Republic of Palau and is not authorized to engage in any business activities within the Republic,” the agencies said.
Reports in Chinese media outlet Followin.io described BOEX as a blockchain consortium that launched its platform and regional operations in Palau in July, with an in-person event in August. The group claims to operate on a model of tokenized resource governance and digital finance infrastructure.
Officials stressed that BOEX is not affiliated with Palau’s Residency Program or the Palau Stablecoin Project, despite any suggestions to the contrary.
The agencies cautioned residents and potential investors to avoid engaging with BOEX until its registration status changes. They also reminded the public that company registrations can be verified through the Bureau of Revenue and Taxation, the Corporate Registrar, or the Foreign Investment Board.
Authorities said the warning is meant to protect the public from potential scams and financial losses linked to unlicensed operators.