MANILA — The Bangko Sentral ng Pilipinas (BSP) announced that it will stop accepting new applications for digital bank licenses beginning December 1, 2025.

The move follows the Monetary Board’s approval of a moratorium on digital bank licensing on September 18, 2025, which will remain in effect until further notice.

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

The BSP said the decision is part of its broader effort to balance digital innovation with financial stability. Only applicants with sound governance, robust risk management frameworks, and a value proposition that meets the needs of Filipinos will be granted digital banking licenses.

Currently, six licensed digital banks operate in the Philippines. In January 2025, the BSP lifted an earlier moratorium and increased the cap on digital banks to ten, allowing for four additional licenses.