Archive
Filipino E-wallet GCash Reached 66 Million Users in June 2022
Philippines’ mobile wallet GCash has reached 66 million registered users as of June 2022 according to President and CEO Martha Sazon during the Mobile 360 Asia Pacific Fintech Summit held in Singapore. During the summit, Martha shared how collaborations with
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BSP Will Not Accept New Crypto License Applications for 3 Years After Sept
The Bangko Sentral ng Pilipinas (BSP) announced that it will no longer be accepting applications for new Virtual Asset Service Provider (VASP) licenses for the next three years starting 1 September 2o22. The central bank said that this will be
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Singaporean Regtech Tookitaki Makes Its Debut in the Philippines
Southeast Asian regtech firm Tookitaki announced its launch in the Philippines through a partnership with local payment gateway company Paymongo. Tookitaki is headquartered in Singapore and provides end-to-end financial crime solutions to several leading financial institutions. Ahead of its local
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Philippines SEC Cautions Public to Not Invest in Binance
The Philippines Securities and Exchange Commission (SEC) has cautioned the public to not invest in global cryptocurrency exchange Binance in a response to a whistleblower report from public policy think tank Infrawatch. On 25 July, Infrawatch beseeched the SEC to conduct
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Tonik Enables Real-Time Fund Transfers up to PHP 50,000 With InstaPay
Philippines digital bank Tonik announced that it has integrated InstaPay services on its mobile app to enable real-time fund transfers. Tonik said in a statement that it is the first licensed digital bank in the country to fully implement InstaPay
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Rise of Super-Apps Puts Pressure on Incumbents
In Asia, bigtechs and new digital banking challengers are rapidly gaining ground, forcing incumbent banks to rethink their business strategy and become a part of the super-app ecosystem, a new report by Finextra, in association with Infosys Finacle and OneSpan,
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Citi Wraps up Sale of Philippines Consumer Business to UnionBank for US$700 Million
Citi announced that it has completed the sale of its Philippines Consumer Business to UnionBank of the Philippines. The deal is expected to be worth approximately US$700 million. The transaction covers Citi’s local credit card, unsecured lending, deposit and investment
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ADB Helps Asian Cities Tap Private Sector Financing to Meet Their Climate Goals
The Asian Development Bank (ADB) has launched a new initiative to provide direct advisory support to help cities across Asia and the Pacific to meet their climate resilience goals while improving their infrastructure and urban services. The Creating Investable Cities
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GoTyme Gets Green Light From BSP to Begin Operations as Digital Bank in the Philippines
GoTyme announced that it had secured its Certificate of Authority (COA) to operate as a digital bank by the Bangko Sentral ng Pilipinas (BSP) on 29 July 2022. The issuance of a COA is the third and final stage involved
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Philippines’ UNO Digital Bank Raises US$11 Million Led by Malaysia’s Creador
Singapore-headquartered financial technology company UNOAsia, the primary incorporator of UNO Digital Bank in the Philippines, has secured US$ 11 million in a pre-Series A funding round led by Creador Private Equity. Creador has already invested a total of US$ 21
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