UK-based fintech Revolut is said that it would apply for digital bank and electronic money issuer (EMI) licences in the Philippines from the Bangko Sentral ng Pilipinas (BSP), the Department of Trade and Industry (DTI) said.
DTI Secretary Cristina Roque discussed the plans with Adam Gagen, Revolut’s Global Head of Government Affairs, on 2 October.
The meeting took place at the company’s London headquarters, Asia Business Outlook reported.
Revolut is reviewing the regulatory and corporate structures it would need before applying.
For now, its Philippine banking plans remain at the evaluation stage.
Building on Its Manila Tech Hub
Revolut already runs a Global Tech Hub in Manila, which opened in July 2025 to support its teams across the UK, Europe, Asia-Pacific and the Americas.
In February, it appointed former GoTyme Bank Co-CEO Albert Tinio as its Manila-based Chief Executive Officer-Designate.
Roque called the hub “a strong vote of confidence in Filipino talent” and said the DTI sees room to work with Revolut on digital banking, cross-border payments and financial inclusion, Daily Tribune reported.
She added that a wider Revolut presence could give Filipino businesses better access to digital financial services and international markets.
Three Digital Bank Slots Remain
The BSP lifted its moratorium on new digital banks and opened four additional licences, with applications closing in December 2025.
MariBank took the first of those slots in July, becoming the country’s seventh digital bank, according to FNN’s guide to digital banks in the Philippines.
The BSP has not named the remaining applicants, and it is unclear whether Revolut submitted one before the deadline.
Earlier, BSP officials said an unnamed European digital bank had completed its application requirements.
Featured image: Edited by Fintech News Philippines based on an image by Boubloub via Wikimedia Commons.
