June 9, 2020
ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT
SEC ADVISORY
Based on the information gathered by the Commission, the entities operating under the names CENTRIC CORP., LTD. and CENTRIC FOUNDATION (CENTRIC), the developer of CENTRIC RISE and CENTRIC CASH, are engaged in investment-taking activities in the Philippines which are NOT AUTHORIZED by the Commission.
CENTRIC is a private company registered in the United Kingdom with offices in London and Singapore and uses the domain "www.joincentric.com" in its transactions.
CENTRIC states that its dual-token economic model called CENTRIC RISE and CENTRIC CASH are new types of cryptocurrencies that are designed to continuously appreciate in value due to the apparent development of their unique price blocks that seems to update each hour.
As posted online, CENTRIC is enticing the public to invest in the said tokens under the pretext that its prices are still low and its worth will rise each hour despite the fact that these tokens are apparently in the early stages of its development and that CENTRIC is still in the process of establishing its network and business legalities....
