British financial technology (fintech) giant Revolut is set to enter the Philippine market by establishing its second Global Tech Hub in Asia, as part of its goal to reach 100 million customers worldwide. In a statement released on Wednesday, July 30, the Department of Finance (DOF) said the entry...
Ayala Corporation reported that Globe Fintech Innovations Inc. (Mynt, the owner of GCash) is undergoing a stock split that will result in a lower par value per share and increase its market appeal when it launches its initial public offering. In a disclosure to the Philippine Stock Exchange, Ayala...
Financial technology firm Skyro Lending, Inc. reported that it is slowly gaining traction from local and international banks to help finance its business growth throughout this year. In a roundtable discussion on Tuesday, April 29, Nasim Aliev, co-founder and co-chief executive officer of Skyro,...
The Securities and Exchange Commission (SEC) is not abandoning the 20-percent minimum public ownership of rule for initial public offerings (IPOs), although it has approved the plan of the Philippine Stock Exchange (PSE) to relax its implementation of this requirement to make it easier for large...
The country’s investment houses are considering an agreement to carve out among themselves equally the huge $1 billion to $1.5 billion initial public offering (IPO) of Globe Fintech Innovations, Inc. (Mynt), which owns top e-wallet GCash. This is according to Investment House Association of the...
A resolution seeking an official investigation on the recent spate of unauthorized transactions, scams and other irregulariteis involving GCash and other mobile financial services has been filed in the Senate. Senate deputy minority leader Risa Hontiveros, in filing Senate Resolution No....
The International Finance Corporation (IFC) has invested $7 million in fintech firm First Circle to expand digital financial services for small and medium-sized enterprises (SMEs) in the Philippines. The IFC board approved the project on June 13, signed on June 28, and invested the...
BillEase, a local digital consumer finance platform, has secured an investment from The Rise Fund, a multi-sector initiative under Texas Pacific Group’s (TPG) global impact investing strategy. In a statement on Tuesday, Sept. 3, BillEase chief Executive Officer Georg Steiger said that this...
As the Philippines navigates the digital age, the financial technology sector is witnessing a major transformation. Recent studies indicated a surge in the adoption of financial mobile apps among consumers. For many Filipinos, the shift to digital finance has made managing money more...
Digital lending platform Digido estimated that roughly one-fifth of Filipinos would still not utilize financial technology (fintech) by the end of this year. In a statement, Digido said that the adoption rate of financial technology through mobile apps in the country is projected to hit 79.5...
Zobel-led Ayala Corporation disclosed that it is paying P22.4 billion for the acquisition of an additional eight percent of Globe Fintech Innovations, Inc. (Mynt), the operator of the GCash platform, from existing shareholders. In a disclosure to the Philippine Stock Exchange providing final...
Mitsubishi UFJ Financial Group (MUFG) and Ayala Corporation are acquiring fresh stakes in Globe Fintech Innovations, Inc. (Mynt), in a deal that more than doubled the valuation of the parent company of GCash to $5 billion (P286.4 billion) from $2 billion in 2021. In disclosures to the Philippine...
