LYKA, creator of the popular “Lyka Gems” has released a letter of support vowing to fulfill its obligations to the Bangko Sentral ng Pilipinas (BSP) and its partner merchants.
Unionbank will create a new subsidiary which will be called Union Digital Bank (UnionDigital) according to a recent filing.
The BSP ordered Lyka, creator of Lyka Gems, to cease operating its payment systems until it registers and receives the required licenses from the BSP.
This project, the “Social Dividend Campaign,” is poised to help repatriated Overseas Filipino Workers who have lost their jobs and income.
Fintech companies and financial institutions globally are invited to submit their innovative solutions which can address problems within the key areas, which have been identified based on suggestions received from partner organizations globally.
PSE President Ramon S. Monzon said it is considering to host crypto trading on the stock exchange itself, primarily for the protection of investors.
Voyager Innovations, the parent company of PayMaya secured $167 million investment which will be used to expand to digital banking & other financial services.
BSP Governor Benjamin Diokno explained that the new framework will help monetary entities like the central bank in achieving its goal of letting more Filipino adults in the formal financial system.
GCash, a popular mobile wallet app in the Philippines with more than 40 million users, is eyeing a possible listing on the Philippine Stock Exchange through Initial Public Offering (IPO) to raise more funds for expansion.
Ripple and Novatti’s effort first targets the Australia-Philippines corridor through a partnership with iRemit, a Filipino remittance service provider which also holds e-money and virtual currency exchanges licenses.
