Archive
Fintech Map Philippines 2023: Unpacking the Industry’s Growth
Between 2021 and 2023, the Philippines’ fintech sector grew by more than 38%, rising from 216 companies two years ago to 299 in August 2023, data from the Fintech Map Philippines 2023 shows. The 2023 data, shared in this year’s
Read More
BSP Maintains Fee Cap on InstaPay and PESONet, Pushes to Eliminate Cost
The Bangko Sentral ng Pilipinas (BSP) has decided to keep the current cap on fees for InstaPay and PESONet, two key electronic fund transfer systems. PESONet facilitates batch electronic funds transfers while InstaPay offers real-time, low-value digital payment options. Financial
Read More
Leapgen and FinScore Join Forces to Enhance Microloan Access for Filipinos
Local fintech firm Leapgen Lending has announced a partnership with FinScore, a Philippines-based alternative credit scoring provider. This collaboration aims to offer more accessible microloan options for individuals facing challenges in accessing traditional banking services. FinScore specialises in alternative credit
Read More
BSP Greenlights Merger Between BPI and Robinsons Bank
The Bangko Sentral ng Pilipinas (BSP) has approved the merger between Bank of the Philippine Islands (BPI) and Robinsons Bank Corporation (RBC). BPI will emerge as the surviving entity following this merger. This decision follows a series of approvals from
Read More
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
Read More
Coins.ph Raises Daily Cash-in Limits up to PHP 10 Million
Philippines’ cryptocurrency exchange Coins.ph announced that it has increased its daily cash-in limits for its users. Level 2 accounts, which require ID and selfie verification, now have a daily cash-in limit of PHP 500,000. Coins.ph said that Level 1 users
Read More
BSP Unveils Initiatives to Boost Sustainable Finance in the Philippines
The Bangko Sentral ng Pilipinas (BSP) has given the green light to a set of temporary measures aimed at encouraging banks to extend loans or finance green and sustainable projects. These measures also cover transition financing for decarbonisation. Specifically, they
Read More
PDAX Expects Trading Volume Surge For VASPs Amidst Binance Exit
The Philippine Digital Asset Exchange (PDAX) is anticipating a surge in cryptocurrency trading volumes within the Philippines, following the imminent departure of Binance, a leading global cryptocurrency exchange. PDAX CEO Nichel Gaba envisions the expected departure of Binance, which has
Read More
BSP to Extend Electronic Money Licence Moratorium to End-2024
The Bangko Sentral ng Pilipinas (BSP) is extending the moratorium imposed on the issuance of licences to new non-bank electronic money issuers (EMIs) by another year. BSP Deputy Governor Mamerto Tangonan said the moratorium on the entry of new EMI-non-bank
Read More
Petronas FutureTech Spearheads Startup Advancement in Energy and Beyond
The accelerated energy transition amidst pressing climate concerns has compelled industry players to contribute actionable solutions in driving positive change and sustainable development. Rising up to the challenge, Petronas, a global energy corporation, has significantly expanded its scope beyond traditional
Read More