The Market Monitor Minding the Nation's Business
The Bangko Sentral ng Pilipinas (BSP) announced it will stop accepting new applications for digital bank licenses starting December 1, 2025, following the Monetary Board’s approval of a fresh moratorium on September 18.
Interested firms have until end-November to file complete submissions, which will be assessed on a first-come, first-served basis. The BSP stressed that incomplete or non-compliant applications will no longer be entertained after the deadline.
“The decision is part of the BSP’s broader effort to balance digital innovation with financial stability,” the central bank said, adding that only applicants with sound governance, strong risk management, and compelling value propositions will be considered.
The Philippines currently has six licensed digital banks. Earlier this year, the BSP lifted its first moratorium and raised the cap on digital banks to 10.