UnionDigital Bank commenced operations on Monday after receiving the BSP's green light for the launch last week.
July 20, 2022Digital banks and unit investment trust funds can also participate in the secondary market for central bank securities.
December 1, 2021The seventh and final digital bank is likely to be an existing bank applying to convert into a digital bank, but approval has been delayed.
September 21, 2021Two applications were already under review. Nine new applications were received before the deadline. Only two more licences may be up for grabs.
September 13, 2021The application window will be closed for three years. Applications received by 31 August will be processed on a first-come, first-served basis.
August 24, 2021The application window for the submission of applications from new digital banks, including converting banks, will close on 31 August 2021.
August 20, 2021UnionBank is the latest to receive the licence after Landbank's Overseas Filipino Bank, Tonik Bank, and UNOBank.
July 31, 2021Tencent-backed Voyager Innovations, Philippine National Bank, RCBC, South Africa's TymeBank, UnionBank, and EastWest Bank are among the applicants.
July 2, 2021The BSP has now granted three digital bank licences to date, two of which are conversions from other types of banking licences.
June 9, 2021