[Revolut Plans to Establish a Wholly-Owned Subsidiary in the Philippines to Provide Digital Banking Services] According to Deep Tide TechFlow on October 7, as reported by Tech in Asia, the London-based fintech company Revolut is planning to establish a wholly-owned local subsidiary in the Philippines to offer digital banking and electronic money issuance (EMI) services. The Philippine Department of Trade and Industry (DTI) revealed that officials from both sides met in London on October 2 to discuss market entry matters. To launch the related products, Revolut is currently evaluating applicable corporate structures and licensing application plans in accordance with the regulatory requirements of the Bangko Sentral ng Pilipinas (BSP). The Philippine Department of Trade and Industry also stated that it will assist in coordinating communication with government agencies. Previously, the Philippine central bank lifted its ban on new digital banks in August 2024 but announced that it would stop accepting new digital banking license applications again starting December 1, 2025. Additionally, Revolut established a technology hub in Manila in July 2025 to support its global business operations.