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The Bangko Sentral ng Pilipinas (BSP) has placed firm reporting standards for operators of payment systems in a move to make the Philippines’ payment system strong and more efficient.
Philippines-based digital-only neobank Tonik Digital Bank has closed its Series B funding round on $131m.
Philippines-based buy now, pay later solution Plentina has reportedly received $2.2m in fresh funding, as it sets its sights on international expansion.
The Philippines Central Bank and the Monetary Authority of Singapore have singed a cooperation agreement to support payments between the two countries.
Philippines-based Mynt, which develops financial solutions and payment services, has collected $300m in a funding round that brings its valuation to $2bn.
Philippine Digital Asset Exchange (PDAX), which enables consumers to buy and sell cryptocurrencies, has reportedly netted $12.5m in its latest funding round.
Philippines-based Voyager has reportedly collected $167m in its funding round for its digital payments platform PayMaya.
Philippines-based Uploan, which offers an end-to-end salary loan management platform, has reportedly collected $15m in debt financing.
Tyme, a neo bank focused on Asia and Africa, has raised $110m in funding, as it prepares to apply for a banking license in the Philippines.