Various
BSP Cancels Nikko Mart Registration Amid Oversight on Money Service Businesses
The Bangko Sentral ng Pilipinas (BSP) has recently revoked the registration of Nikko Mart, a money changer and foreign exchange dealer, as part of its ongoing efforts to oversee money service businesses (MSBs) more stringently. This revocation marks the first
Read MoreFintech Alliance.PH and BSP Deepen Commitment to Philippines Digital Finance
The Fintech Alliance.PH, the Philippines’ fintech organisation, engaged with the Bangko Sentral ng Pilipinas (BSP), signalling a strengthened partnership to bolster the nation’s digital financial ecosystem. This courtesy visit was an avenue to reflect on the fintech industry’s growth, spotlighted
Read MoreSaripay Provided Credit Access to 70,000 Stores in 1st Year of Operations
Saripay, the financial wing of Growsari Enterprises, has commemorated its first year since launching in 2023, a period during which it has extended its support to micro, small, and medium enterprises (MSMEs) through a combination of financial assistance and digital
Read More6 Banks Revealed in Project Agila CBDC Pilot Concluding by End-2024
In a recent press briefing, Deputy Governor Mamerto Tangonan disclosed that the Bangko Sentral ng Pilipinas (BSP) is poised to complete the trial phase of Project Agila, a wholesale Central Bank Digital Currency (CBDC) initiative, by the end of 2024.
Read MoreHubert Dominic B. Guevara Returns to SEC as Commissioner
Hubert Dominic B. Guevara has been appointed as a new Securities and Exchange Commission (SEC) commissioner, succeeding fellow attorney Kelvin Lester K. Lee, whose term has concluded. Guevara, with a background as a lawyer and extensive experience in both the
Read MoreSEC Issues Alert on Unregistered Investment Schemes by DigiVault Trading and Altstrade
The Securities and Exchange Commission (SEC) has issued a cautionary notice to the public regarding their dealings with DigiVault Trading and Altstrade, highlighting that these entities are not authorised to solicit investments due to lack of registration with the SEC.
Read More5 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
Read MoreBSP and BAIPHIL Forge Stronger Ties with New MOU
The Bangko Sentral ng Pilipinas (BSP) and the Bankers Institute of the Philippines (BAIPHIL) have recently strengthened their collaboration. At the BSP Head Office in Manila, the two institutions signed a memorandum of understanding (MOU), marking a new chapter in
Read MoreTop 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,
Read MoreBSP 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