Philippine crypto exchanges, e-wallets, and digital banks must submit National ID database integration applications within three months under a draft central bank mandate.
BSP Circular 1238 confirms e-wallets and banks can charge transfer fees as long as they are fair and cost-based.
Bloomsolutions, Inc. (BloomX) and XenRemit, Inc., a subsidiary of Xendit Group, were excluded from the latest central bank VASP roster.
The BSP has warned the public against transacting with Bangko Maharlika Ltd., saying the entity is neither licensed nor regulated by the central bank and is not registered with the SEC.
The BSP and PPMI have launched Direct Debit PH, InstaPay Cash-In, and InstaPay for Business to expand digital payment options and support higher-value transactions for consumers and businesses.
PERA contributions climbed to ₱757.5 million in the first half of 2026 as the number of contributors quadrupled, supported by digital onboarding initiatives and growing employer participation.
The guidance, detailed in Memorandum No. M-2026-031, outlines the central bank’s minimum supervisory expectations for developing AI governance and risk management frameworks.
The BSP has directed banks and other supervised financial institutions to upgrade their cybersecurity frameworks, warning that advanced AI systems can automate sophisticated cyberattacks and exploit software vulnerabilities.
![[Exclusive] BSP: Crypto-to-Crypto Trading ‘Fits Naturally’ Under SEC; VASP Rule Amendments Planned](https://bitpinas.com/wp-content/uploads/2026/07/BSP-Clarifies-Crypto-to-Crypto-Rules-Plans-Circular-1108-VASP-Rules-Amendments-1-768x403.png "[Exclusive] BSP: Crypto-to-Crypto Trading 'Fits Naturally' Under SEC; VASP Rule Amendments Planned 9")
The BSP outlined how crypto oversight is evolving in the Philippines, clarifying the SEC’s role in speculative crypto trading while preparing amendments to its VASP framework for public consultation.
Several Philippine banks and e-wallets have reduced or eliminated InstaPay and PESONet transfer fees following new BSP pricing rules. Here’s the latest list of institutions offering free and lower-cost transfers.
