Already the first digital-only neobank in the Philippines, Tonik has notched up another first in the local fintech and banking sector receiving a digital bank licence from the Bangko Sentral ng Pilipinas BSP.
This follows the neobank's public launch in March 2021, which saw it acquire the equivalent of around $20 million in retail deposits in under a month.
Most recently, Tonik secured its pre-series B funding to become one of the highest funded fintechs in South-east Asia, it said in a statement.
The digital banking licence will enable Tonik to accelerate the roll-out of additional lending and payment products, said Greg Krasnov,...
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