Revolut in Talks With Philippine Authorities Over Digital Bank and E-Money Licences
Revolut in Talks With Philippine Authorities Over Digital Bank and E-Money Licences #
British fintech Revolut is exploring an entry into the Philippine financial services market, with plans to seek both a digital banking licence and an electronic money issuer (EMI) authorisation from the Bangko Sentral ng Pilipinas (BSP), according to the country’s Department of Trade and Industry.
The plans emerged following a meeting on 2 October between DTI Secretary Cristina Roque and Adam Gagen, Revolut’s Global Head of Government Affairs, at the company’s London headquarters. According to the DTI, the two sides discussed Revolut’s market-entry strategy and the expansion of its existing operations in the country. The department said it would facilitate discussions between Revolut and relevant Philippine government agencies to help streamline the regulatory process for the proposed investment.
Revolut is currently assessing the corporate and regulatory structures it would need to establish a wholly owned local entity before submitting any formal application. No licence has been applied for yet, and the plans remain at an early evaluation stage.
The Philippines has attracted renewed interest from digital bank applicants since the BSP lifted a multi-year moratorium on new digital bank licences and opened four additional slots, with applications closing in December 2025. Singapore-linked MariBank secured the first of those slots in July, becoming the country’s seventh digital bank, leaving three positions still to be awarded.
Revolut already has an operational presence in the Philippines. The company opened a Global Technology Hub in Manila in July 2025 to support operations spanning Europe, Asia-Pacific and the Americas, a facility Trade Secretary Roque described as a sign of confidence in Filipino talent. The hub employs staff across software engineering, data analytics, customer operations and financial crime compliance.
The fintech currently serves more than 68 million retail customers and over 760,000 business customers across 40 markets. A secondary transaction in July 2026 valued the company at $115 billion, making it Europe’s most valuable private technology company. Revolut holds banking licences in Australia, Colombia, France and the United Kingdom and is pursuing additional regulatory approvals in other markets, including a recently filed application for a Swiss banking charter.
Roque said a formal Revolut presence in the Philippines could broaden access to digital financial services for both consumers and small businesses, particularly in the areas of cross-border payments and financial inclusion.
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