BSP to close digital bank application window by December 2025

The Bangko Sentral ng Pilipinas (BSP) announced that it will stop accepting new applications for digital bank licenses starting 01 December 2025.

The closure of the application window follows the Monetary Board’s approval of a moratorium on digital bank licensing on 18 September 2025. The moratorium will remain in place until further notice.

Interested applicants have until 30 November 2025 to submit their complete applications. These will be evaluated on a first-come, first-served basis and must meet all documentation and licensing requirements of the BSP, both in terms of form and substance. Incomplete or non-compliant submissions will not be accepted after the deadline.

The decision is part of the BSP’s broader effort to balance digital innovation with financial stability. By carefully evaluating applicants, the BSP aims to ensure that only those with sound governance, robust risk management frameworks, and a compelling value proposition that meets the needs of Filipinos will be granted digital banking licenses.

Currently, six licensed digital banks are operating in the country. In January 2025, the BSP lifted an earlier moratorium and increased the cap on the number of digital banks to ten or an additional four new licenses.