Manila, Philippines – Revolut is exploring a wholly owned Philippine entity and licences to offer digital banking and payment services, a move that could add another major foreign player to the country’s growing digital finance market.
The Philippine Star reported that the Department of Trade and Industry (DTI) said the British financial technology company is evaluating regulatory pathways and corporate structures to obtain digital banking and electronic money issuer (EMI) licences from the Bangko Sentral ng Pilipinas (BSP).
An EMI is a financial institution authorised to issue electronic money, which is monetary value stored electronically that customers can use for payments and fund transfers.
Trade Secretary Cristina Roque met Revolut Global Head of Government Affairs Adam Gagen at the company’s headquarters in Canary Wharf, London, on 2 October. The two discussed Revolut’s broader Philippine market-entry strategy.
Following the meeting, Roque said in a statement, “The Philippines welcomes Revolut’s continued interest in our market.” She added, “We see even greater opportunities for collaboration in digital banking, cross-border payments and financial inclusion.”
The planned expansion would take Revolut beyond the technology and operational presence it established in Manila in 2025. It would also move the company into regulated financial services offered directly to Philippine customers.
Revolut already operates a global technology hub in Manila, which it launched in July 2025 to support operations across the United Kingdom, Europe, Asia-Pacific and the Americas.
The Philippine plans sit alongside Revolut’s 8 October announcement that it will invest nearly S$350 million (about US$270 million) in Singapore over the next five years. The company said Singapore will continue to serve as a base for its Southeast Asian expansion, the same region where it is now weighing a Philippine licence.
However, the company must first navigate the BSP’s licensing framework before it can launch banking services locally.
The central bank closed the application window for establishing digital banks on 1 December 2025. Even so, applications submitted by 30 November 2025 continue to be processed.
Meanwhile, the BSP currently allows a maximum of 10 digital banks. MariBank Philippines became the seventh licensed digital bank in July, leaving room for up to three more players under the existing ceiling.
Roque also continued, “We want more Filipino entrepreneurs and consumers to benefit from secure, affordable and innovative financial services. Companies like Revolut can help make that happen, especially as we continue to build a more digital, inclusive and globally connected Philippine economy.”
In support of the plan, the DTI offered to facilitate discussions between Revolut and relevant government agencies as the company explores its proposed investment.
