The Philippine Department of Trade and Industry said Revolut, a London-headquartered fintech company, plans to set up a wholly owned local unit in the Philippines to offer digital banking and electronic money issuer services.

Officials discussed the company’s market entry at an October 2 meeting in London.

To launch those products, Revolut is reviewing corporate structures and licensing options under Bangko Sentral ng Pilipinas rules.

The Department of Trade and Industry said it also offered to help coordinate talks with government agencies.

The Bangko Sentral ng Pilipinas lifted an earlier moratorium on new digital banks in August 2024.

But the central bank said in September 2025 it would stop again accepting new digital bank license applications on December 1, 2025.

Revolut opened a technology hub in Manila in July 2025 to support its global operations, and the Department of Trade and Industry said the site is expected to create hundreds of jobs.

🔗 Source: Department of Trade and Industry (DTI)

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