Tagged: bangko sentral ng pilipinas

August 19, 2021 @ 8:29 pm By Omar Faridi  |  

The Union Bank of the Philippines (UnionBank) has teamed up with crypto-asset custodian Hex Trust in order to test out its digital asset custody services – which are compliant with the guidelines provided by the Bangko Sentral ng Pilipinas (BSP), the nation’s reserve bank. Through… Read More

August 18, 2021 @ 4:09 pm By Omar Faridi  |  

GOtyme, which is a joint initiative between Philippines-based conglomerate Gokongwei Group and Singapore’s virtual banking group Tyme, has reportedly acquired the fifth digital banking permit from the Bangko Sentral ng Pilipinas (BSP), the nation’s central bank. GOtyme is set to introduce its services during Q2… Read More

July 24, 2021 @ 3:26 pm By Omar Faridi  |  

The Union Bank of the Philippines, which is part of a conglomerate that is led by Aboitiz Equity Ventures, will be launching the fourth all-digital banking platform in the Southeast Asian country. This, according to a Philstar Global report. The UnionBank’s virtual bank application has… Read More

July 13, 2021 @ 10:44 pm By Omar Faridi  |  

The Philippine Stock Exchange (PSE) is currently seeking regulatory approval to begin offering cryptocurrency trading, PSE President and CEO Ramon Monzon thinks that the bourse can offer an ideal platform for facilitating digital currency trading because of its robust trading infrastructure and established customer safeguard… Read More

April 5, 2021 @ 11:17 pm By Omar Faridi  |  

Overseas Filipino Bank (OFBank), which is a wholly-owned subsidiary of the Land Bank of the Philippines (LANDBANK), has managed to acquire an operational license following the introduction of the Bangko Sentral ng Pilipinas’ (BSP) updated virtual banking guidelines. OFBank was reportedly provided a digital banking… Read More

March 4, 2021 @ 11:05 pm By Omar Faridi  |  

The Philippines’ Securities and Exchange Commission (SEC) has introduced its online payment system for firms so they can easily pay their registration fees. The new SEC Payment Portal is a web-based system that can accept payment for registrations, transaction fees, and penalties by simply using… Read More

November 29, 2020 @ 7:30 pm By Omar Faridi  |  

​The Monetary Board in the Philippines has reportedly approved the recognition of digital banking platforms as a new bank category that’s separate and distinct from the traditional bank classifications. Regulators in the country have defined digital banks as an institution or entity that provides financial… Read More

August 2, 2020 @ 2:33 pm By Omar Faridi  |  

The Bank of Japan or BOJ (JASDAQ: 8301), the nation’s central bank that’s headquartered in Chūō, Tokyo, has reportedly appointed Kazushige Kamiyama, a prominent economist, as its head of a department that’s tasked with conducting research on central bank digital currencies (CBDCs). Reuters reports that… Read More

July 8, 2020 @ 8:10 pm By Omar Faridi  |  

The BSP (Bangko Sentral ng Pilipinas), the central bank of the Philippines, is working on a new set of guidelines for digital banks that plan on establishing operations in the country. The BSP confirmed that foreign individuals or business entities will be able to own… Read More

May 24, 2020 @ 11:35 pm By Omar Faridi  |  

An increasing number of transactions are being conducted online by the residents of the Philippines due to COVID-19. The nation’s government has confirmed that it will launch a branchless bank that will offer services to Filipinos working and living abroad. The digital bank will also… Read More

June 11, 2019 @ 5:43 pm By Cali Haan  |  

Philippine Central Bank (Bangko Sentral ng Pilipinas or BSP) personnel urged caution regarding the use of cryptocurrencies this week and promised to continue to address the risks posed by them, The Philippine Star reports. Governor Benjamin Diokno said he is wary of cryptocurrencies given that they… Read More

November 16, 2017 @ 2:05 pm By Samantha Hurst  |  

The Bangko Sentral ng Pilipinas (BSP) and the Monetary Authority of Singapore (MAS) announced on Thursday they have signed a Fintech Co-operation Agreement (CA) to promote innovation in financial services in their respective markets. The BSP-MAS CA was signed at the sidelines of the second… Read More

February 15, 2017 @ 3:10 am By Jessica Pham  |  

The central bank in the Philippines laid down regulations last week for virtual currencies, including bitcoin. Bangko Sentral ng Pilipinas (BSP) was prompted by the surge in the number of money transfers across borders.  More specifically, the financial body is looking to mitigate risks, such as… Read More