The Bangko Sentral ng Pilipinas remains in active discussions with Revolut over the fintech company’s possible entry into the Philippine digital banking market. BSP Deputy Governor Lyn Javier said the British firm continues to express interest, but there is no definite timeline for a license. The process depends on Revolut meeting regulatory requirements and demonstrating readiness to operate locally. The update signals continued interest in the Philippine market, not a completed application or an approval that customers can use today. The distinction is important for anyone comparing available banking options.
Revolut is exploring a wholly owned Philippine entity and has expressed interest in both a digital banking license and an electronic money issuer license. The two permissions would support different services: digital banking would allow direct banking products, while an EMI license would cover electronic money, payments and fund transfers. The distinction matters because the eventual scope of Revolut’s Philippine offering will depend on which applications are filed, approved and operationalized under local rules. Regulatory approval would come before any local product launch.
The company already operates a global technology hub in Manila, opened in July 2025, and says it serves more than 68 million retail customers across 40 markets. A Philippine banking launch would therefore build on an existing technology presence while introducing a new regulatory and consumer relationship. Local operations would still need to address data protection, safeguarding, customer support, fraud controls and financial inclusion expectations that apply to regulated financial institutions in the country. Those safeguards are central to earning trust in a competitive market.
The BSP currently has seven licensed digital banks under a ceiling of 10, although the central bank stopped accepting new applications in December 2025. Earlier submissions can continue through the assessment process, and any future change to the ceiling would remain a Monetary Board decision. For now, the story is one of regulatory engagement rather than imminent launch. Filipino customers should wait for official license and product announcements before treating Revolut as a locally available digital bank. The company must first complete the formal licensing process.
