Revolut seeks digital banking license in the Philippines, currently in discussions with the local central bank

According to Crowdfund Insider, UK fintech Revolut is actively negotiating with the Philippine Central Bank (BSP) regarding an application for a local digital banking license. BSP Deputy Governor Lyn I. Javier stated that while discussions are ongoing, whether Revolut ultimately enters the Philippine market depends on its ability to meet regulatory requirements. Revolut must undergo assessment by the central bank and satisfy the relevant requirements for foreign banks to establish operations locally, with the specific timeline contingent on the company's compliance readiness.