AbaCore Capital Holdings, Inc. signed counterpart Memorandum of Agreement (MOA) between wholly-owned subsidiary, Philippine Regional Investment Development Corporation (PRIDE), its subsidiary Philstar Development Bank, Inc., and SquidPay Technology, Inc. The MOA embodies the overall terms of the partnership between Abacore's 100% subsidiary Philippine Regional Investment Development Corporation (PRIDE) and the Squidpay group. The Parties will work together, through Philstar Development Bank, Inc., with Squidpay as investor and operator, in the set-up and operation of a digital bank in the Philippines, subject to the requirements and mandate of the digital banking license it will obtain from the BangkoSentral ng Pilipinas (BSP). In the Memorandum of Agreement, Squidpay will infuse up to Nine Hundred Million Pesos (P900,000,000.00) for a 60% stake in Philstar Development Bank, subject to conditions in the MOA and subsequent implementing agreements. PRIDE and the current stockholders, will retain at least 40%. The Joint Venture will target the ever-growing need for cashless payments considering the pandemic and the BangkoSentral ng Pilipinas' drive for digital banking.