Posts From Johanan Devanesan
Breaking Down Digital Banking Products in the Philippines
Digital banking has swiftly expanded across Asia, notably achieving reasonable success in nations such as South Korea, China, and Japan. Within Southeast Asia’s digital banking sector, the Philippines joined Singapore as early adopters of digital bank products and services amid
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List of Licensed Cryptocurrency Exchanges in the Philippines
In the Philippines, the fintech sector is developing at a rapid pace, fueled by booming digitalisation of the country’s payments, but also by the progressive stance towards cryptocurrency exchanges. As the global cryptocurrency markets have endured waves of positive and
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BSP Finalising Revised Framework for Money Service Businesses
The Bangko Sentral ng Pilipinas (BSP) is on the verge of finalising a comprehensive new framework to bolster the regulatory standards for Money Service Businesses (MSBs) within the Philippines. This initiative seeks to adapt and refine the regulatory environment, addressing
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BSP, PDIC Sign MOA to Streamline Cooperation and Supervision of Bank Deposits
The Bangko Sentral ng Pilipinas (BSP) and the Philippine Deposit Insurance Corporation (PDIC) have updated their cooperative framework through the signing of a Revised Memorandum of Agreement (MOA) on Information Exchange. The event took place at the BSP headquarters in
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BSP CBDC Project: Here’s All We Know About the Wholesale Digital Currency
In the rapidly evolving landscape of global finance, the fairly recent emergence of Central Bank Digital Currency (CBDC) represents a significant shift towards the digitalisation of national currencies. The Bangko Sentral ng Pilipinas (BSP), under the leadership of Governor Eli
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GoTyme Bank and Its Remarkable Journey Towards Profitability
GoTyme Bank stands out as a beacon of digital banking promise in the Philippines, less than two years after launch, in an era where fintech innovations are rapidly transforming the global banking landscape. The unique joint venture between Tyme Group,
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ASEAN Bank Stability Report Reveals Most (and Least) Reliable Philippines Banks
In the contemporary era where the digital economy shapes the core of financial transactions, the reliance on banking services and stability has significantly escalated, including in the Philippines. This reliance is not merely a reflection of a preference for convenience,
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5 Ways Digital Finance in the Philippines is Flourishing Despite Hurdles
The digital finance landscape in the Philippines is undergoing a significant transformation, offering a plethora of opportunities for growth and innovation. The Bangko Sentral ng Pilipinas (BSP) is at the forefront of this change, embracing global central banking standards and
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Top 5 Fintech Trends in the Philippines That Will Shape the Space in 2024
The financial technology landscape in the Philippines has undergone transformative changes in 2024, driven by dynamic innovations and an increasingly digital-savvy population. Today we delve into five of the top fintech trends in the Philippines shaping the nation’s financial sector,
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Fintech in the Philippines: 2023 in Review
The fintech space in the Philippines has been growing rapidly in 2023, with several developments that have shaped the industry and the country’s financial inclusion. The fintech sector in the Philippines witnessed significant growth in 2023 which reflects the country’s
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