Philippine central bank to halt new digital bank license applications

Applicants have until 30 November 2025 to submit complete applications.

The Philippine central bank will stop accepting applications for new digital bank licenses on 1 December 2025.

This follows a moratorium on digital bank licensing approved on 18 September 2025, the Bangko Sentral ng Pilipinas (BSP) said in a statement on 25 September.

Interested applicants have until 30 November 2025 to submit their complete applications.

Applications will be evaluated on a first-come, first-served basis and must meet all documentation and licensing requirements of the BSP, both in terms of form and substance, the BSP said.

Currently, six licensed digital banks are operating in the country.

The BSP had earlier lifted a moratorium and increased the cap on the number of digital banks to 10, or an additional four new licenses.