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News and Events

3 Lessons PH Can Learn from China's Fintech and E-Commerce Revolution

Highlights of a forum on China's fintech and e-commerce ecosystem

Talk about technology and digital innovation in the Philippines and the conversation immediately turns to the country’s status as the selfie or social media capital of the world.Data from social media agency We Are Social show that 63 percent of the population ...

by Lorenzo Kyle Subido  | August 16, 2018 10:00:00
News and Events

PH Gov't Fees, Charges and Taxes Will Soon Be Payable Through Digital Means, says BSP

Move is part of monetary regulator's plan to digitize a fifth of the country's transactions by 2020

At a media briefing on the progress of PESONet, an automated clearinghouse under the BSP. From left: John Cary Ong, SVP of UnionBank; Dan Ibarra, managing director of BTI Payments; Justo Ortiz, chairman of Philippine Payments Management Inc.; Nestor Espenilla Jr., governor ...

by Lorenzo Kyle Subido  | August 08, 2018 04:00:00
News and Events

Unsure of Digital Payments? BSP Creates New Unit to Better Regulate Fintech Services

The Financial Technology Sub-Sector is also in charge of rolling out the national payment system

The Bangko Sentral ng Pilipinas (BSP) has created the Financial Technology Sub-Sector (FTSS), a unit in charge of overseeing the BSP’s digital payments programs as well as regulating registered financial institutions that offer electronic products and services.“A new subsector within the Financial ...

by Lorenzo Kyle Subido  | August 06, 2018 09:00:00
News and Events

Is Financial Literacy the Answer to Public School Teachers' Debt Woes?

BSP and DepEd launch a project to educate teachers on the basics of savings and investing

The Bangko Sentral ng Pilipinas (BSP) has launched a nationwide financial literacy program for public school teachers and students together with the Department of Education (DepEd) and the corporate social responsibility arm of the country’s largest bank, BDO Foundation, on Monday, May ...

by Elyssa Christine Lopez  | May 31, 2018 09:00:00
News and Events

Firms Seeking Cryptocurrency Exchange Licenses from BSP More Than Double in Past Quarter

Regulators say some applicants need extra license as electronic money issuer with Php100 million capital

The number of companies applying for cryptocurrency or virtual currency exchanges (VCE) license from the Bangko Sentral ng Pilipinas (BSP) has gone up to 29 as of early April, according to various newspaper reports published Wednesday, April 11.That’s more than double the ...

by Lorenzo Kyle Subido  | April 12, 2018 03:00:00
News and Events

3 Truths and Myths About Cryptocurrency in PH, According to BSP Governor Espenilla

The country’s chief monetary official clears up some misconceptions about digital money

The Bangko Sentral ng Pilipinas (BSP)’s policy stance towards cryptocurrencies in the Philippines has evolved alongside the spread and widening use of virtual money for transfers, payments and investment.Referring to digital, decentralized and unregulated currencies such as Bitcoin and Ethereum, cryptocurrencies are ...

by Lorenzo Kyle Subido  | March 15, 2018 09:00:00
News and Events

Have You Seen the New Php1,000, Php200 and Php50 Currency Banknotes?

Check out the infographic so you’ll know what they look like in case you get them this Christmas

The Bangko Sentral ng Pilipinas (BSP) released its latest batch of new generation currency (NGC) bank notes with enhanced design on Tuesday, December 5 to highlight significant historical events, world heritage sites and iconic natural wonders of the country. Philippine bills with ...

by Elyssa Christine Lopez  | December 11, 2017 11:00:00
News and Events

The New Bangko Sentral Governor: What’s In It for You?

The head of the Monetary Board has a big say on key economic variables

Investors’ reaction was generally favorable after Philippine President Rodrigo R. Duterte named Nestor Espenilla Jr. the new governor of the Bangko Sentral ng Pilipinas on May 8. Share prices opened higher the next day on news of his appointment though the Philippine ...

by Pauline Macaraeg  | May 09, 2017 07:00:00