The Bangko Sentral ng Pilipinas (BSP) on Thursday announced it will cease accepting new applications for digital banking licenses starting 01 December 2025, following the Monetary Board’s approval of a fresh moratorium on 18 September 2025.
Interested parties have until 30 November 2025 to submit complete applications, which will be assessed on a first-come, first-served basis. The BSP emphasized that only submissions fully compliant with all documentation and licensing requirements will be considered. Incomplete or non-compliant applications will be automatically disqualified after the deadline.
The policy move reflects the BSP’s ongoing effort to balance digital innovation with financial stability. According to the central bank, the moratorium allows for a more deliberate review of applicants to ensure they demonstrate sound governance, robust risk management, and a strong value proposition tailored to the needs of Filipino consumers.
Currently, six digital banks are licensed to operate in the Philippines. The BSP had previously lifted a moratorium in January 2025 and expanded the cap on digital banks to ten, opening the door for four additional players.
The latest pause in licensing underscores the BSP’s cautious approach to the rapidly evolving digital banking sector, aiming to foster innovation while safeguarding systemic integrity.
