Revolut Holds Active Talks With Philippine Central Bank for a Banking License
Photo: TokenPost
Revolut is in active talks with the Bangko Sentral ng Pilipinas (BSP), the Philippines’ central bank, to obtain a digital banking license as it pursues a possible entry into the country’s market. BSP Deputy Governor Lyn I. Javier, who leads its financial supervision department, said Revolut must pass the regulator’s assessment. The process includes requirements for establishing a foreign bank presence in the Philippines. Any approval timeline depends on Revolut’s compliance preparations. Revolut has assessed digital banking and e-money licenses for the Philippines and discussed market entry with Trade Secretary Cristina Roque in London on Oct. 2.
Source: TokenPost
