Global fintech Revolut is weighing a bigger push into the Philippine financial market, exploring digital banking and electronic money services as it looks to expand its cross-border payments business in the country.
The UK-based fintech is evaluating regulatory pathways and corporate structures for a potential Philippine operation, including the establishment of a wholly owned local entity and applications for digital banking and electronic money issuer (EMI) licenses from the Bangko Sentral ng Pilipinas (BSP), according to the Department of Trade and Industry (DTI).
The potential entry would put Revolut in an increasingly competitive Philippine digital-finance market, where banks, e-wallet operators and fintech firms are competing for consumers and businesses seeking faster and cheaper ways to move money domestically and across borders.
Trade Secretary Cristina Roque discussed Revolut’s market-entry plans with Adam Gagen, the company’s global head of government affairs, during a meeting at Revolut’s London headquarters on Oct. 2. Talks also covered the company’s Manila technology hub.
“We want more Filipino entrepreneurs and consumers to benefit from secure, affordable, and innovative financial services,” Roque said. “Companies like Revolut can help make that happen.”
Revolut’s potential Philippine expansion comes as international payments become an increasingly important part of the digital-finance landscape, particularly for businesses serving overseas customers, receiving foreign payments or operating across multiple markets.
The fintech currently serves more than 68 million retail customers and 760,000 business customers across 40 markets. Its global footprint could give it an advantage in offering services aimed at Filipinos and Philippine-based companies with international financial needs, although any local banking or e-money operations would remain subject to Philippine regulatory requirements.
For businesses, a local Revolut operation could potentially broaden choices for cross-border payments and other digital financial services. For consumers, the company’s entry could add another competitor to an already crowded market.
Revolut has already established a presence in the Philippines through its Manila technology hub, which opened in July 2025. The facility supports the company’s operations across the United Kingdom, Europe, Asia-Pacific and the Americas and is expected to create hundreds of high-skilled jobs in software engineering, data analytics, customer operations and financial crime compliance.
The DTI said it would help facilitate discussions between Revolut and relevant government agencies as the company works through regulatory requirements for its proposed investment.
For now, Revolut’s Philippine banking ambitions remain at the evaluation and regulatory-planning stage. Its eventual scope—and whether it secures the necessary licenses—will determine how significantly the fintech reshapes competition in the country’s fast-growing digital financial-services market.
