Revolut, a London-based fintech company headquartered in the UK, is gearing up to establish a wholly-owned local subsidiary in the Philippines, aiming to offer digital banking services and issue electronic money. On October 2, representatives from both entities convened in London to deliberate on matters concerning market access. Presently, Revolut is in the process of assessing appropriate corporate frameworks and licensing approaches, in strict compliance with the regulatory mandates set forth by the Central Bank of the Philippines. The Philippines' Department of Trade and Industry is actively facilitating communication with relevant government bodies. In August 2024, the Central Bank of the Philippines lifted the moratorium on new digital banks. However, it will once again halt the acceptance of new applications for digital banking licenses from December 1, 2025. Furthermore, in July 2025, Revolut set up a technology hub in Manila to bolster its global operational capabilities.