As of July 2026, the Bangko Sentral ng Pilipinas (BSP) has licensed seven digital banks, with a hard cap of 10. That leaves three remaining slots under the current ceiling.
Current players
• Maya Bank
• GoTyme Bank
• Tonik Digital Bank
• UNO Digital Bank
• UnionDigital Bank
• Overseas Filipino Bank (Land Bank’s digital arm)
• MariBank (the newest entrant — converted from a rural bank license and began operating as a full digital bank on 18 July 2026)
MariBank’s approval marks the first of the additional licenses the BSP opened after lifting its earlier moratorium. Three other applications that were submitted before the November 2025 deadline remain under evaluation.
Why the BSP lifted the moratorium
In 2021 the BSP froze new digital bank applications so it could closely monitor the first wave of players. After assessing their financial soundness and contribution to financial inclusion and digital transformation, the Monetary Board decided in 2024 to lift the moratorium effective 1 January 2025. The goal was clear: encourage new business models, level the playing field between incumbents and new entrants, and accelerate the delivery of digital financial services to unserved and underserved Filipinos — while still keeping the total number manageable at a maximum of 10.
The result? A more competitive market. Existing digital banks are already pushing higher deposit rates, faster onboarding, and more innovative products. With MariBank now in the mix and up to three more licenses potentially on the way, customers stand to benefit from even stronger competition on rates, features, and user experience.
The Philippine digital banking story is no longer just about “potential.” It is becoming a genuine competitive arena — and that is good news for consumers, for financial inclusion, and for the broader financial system.
What stage are you now? Want to get ahead? MariBank gets ahead. Slide a DM for advantage.
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