The Bangko Sentral ng Pilipinas (BSP) said Friday it will stop accepting new applications for digital bank licenses by Dec. 1, 2025.
The BSP’s Monetary Board approved a moratorium on digital bank licensing on Sept. 18, 2025, which will remain in place until further notice.
Aspiring applicants have until Nov. 30, 2025, to submit their complete applications. These will be evaluated on a first-come, first-served basis and must meet all of the BSP’s documentation and licensing requirements. Submissions that are incomplete or non-compliant will not be accepted after the deadline.
The BSP said the move is part of its effort to balance digital innovation with financial stability.
It said that by carefully evaluating applicants, it aims to ensure that only those with sound governance, robust risk management frameworks, and a compelling value proposition will be granted digital banking licenses.
There are six licensed digital banks operating in the country. In January 2025, the BSP lifted a previous moratorium and increased the cap on the number of digital banks to 10, or an additional four new licenses.
