The Bangko Sentral ng Pilipinas (BSP) has yet to set a firm timeline for the approval of new digital bank licenses, according to a Philstar Biz report. Applications remain under evaluation and subject to further documentary and corporate requirements, the central bank said.
The Philippines currently has six digital banks, including GoTyme, Maya Bank, and UNObank, following a moratorium on new licenses that was lifted in 2024. The BSP has been cautious in expanding the sector, prioritizing financial stability and consumer protection.
As of now, no specific timeline has been announced for when new digital bank licenses will be granted. The BSP continues to assess the applications while ensuring that prospective digital banks meet all regulatory standards.