Fintech Alliance.Ph

by: Dennis Gutierrez – Contributor / @inquirerdotnet

source: https://newsinfo.inquirer.net/1652500/bsp-and-sec-eye-regulations-for-use-of-crypto-and-defi

Binance and FinTech Alliance Philippines are joining the government in sharing insights on cryptocurrencies, regulatory frameworks, and financial inclusion in the country.

Over the last few years, the crypto industry has seen a rise in interest within the Philippines. Digital assets continue to attract Filipinos, with transactions back in the first half…

by: Lawrence Agcaoili – The Philippine Star

source: https://www.philstar.com/business/2022/08/24/2204606/filipino-adults-bank-accounts-jump-56

MANILA, Philippines — The share of Filipino adults with bank accounts soared to 56 percent in the first quarter   from 29 percent in 2019, according to the 2021 Financial Inclusion Survey of the Bangko Sentral ng Pilipinas (BSP).

The number of Filipino adults with bank accounts doubled to 42.9 million…

by: Victoria de Dios – ThePhilBizNews

source: https://thephilbiznews.com/2022/08/23/bsp-lauds-fintechalliance-ph-for-accelerating-digital-transactions-in-phl/

Mindful of the number of unbanked Filipinos and the need for financial inclusion a thrust that the fintech companies are addressing, Bangko Sentral ng Pilipinas Governor Felipe Medalla thanked FinTechAlliance.PH for their efforts in increasing the volume of digital transactions in the Philippines. Medalla said that the volume of…

by: Business World

source: https://www.bworldonline.com/banking-finance/2022/08/22/469588/peso-may-drop-further-vs-dollar-on-hawkish-fed/

THE PESO may continue to depreciate against the dollar this week as market players anticipate the US Federal Reserve’s policy direction in bringing inflation within target at their annual global central bankers’ conference on Friday.

The local unit closed at P55.93 on Friday, weakening by 4.2 centavos from its P55.888 finish on Thursday, data…

by: CNN Philippines Staff

source: https://www.cnnphilippines.com/news/2022/8/17/House-panel-OKs-tax-bills-digital-service-plastics.html

Metro Manila (CNN Philippines, August 17)— The House Ways and Means Committee adopted on Wednesday three tax measures that are part of the Marcos administration’s legislative priorities.

Among those passed by the panel chaired by Albay 2nd District Rep. Joey Salceda was a proposed measure establishing a mechanism for authorities to collect value-added tax…

by Fintech News Philippinessource: https://fintechnews.ph/56544/virtual-banking/bsp-green-lights-all-six-digital-banks-to-launch-full-operations/

The Bangko Sentral ng Pilipinas (BSP) has issued Certificates of Authority (COA) to all the six licensed digital banks in the country, allowing them to pursue full operations.

The most recent recipients were UnionDigital Bank and GoTyme Bank, which obtained their certificates last July 12 and 29, respectively.

In the first quarter of 2022, the BSP authorised…

by: Louise Maureen Simeon – The Philippine Star 

source: https://www.philstar.com/business/2022/08/12/2202032/world-bank-backs-philippine-digitalization-efforts

MANILA, Philippines — The World Bank has committed to boost its support for the country’s digitalization and modernization efforts, the Department of Finance said.

Finance Secretary Benjamin Diokno recently met with World Bank country director Ndiame Diop to discuss further cooperation between the Philippines and the Washington-based multilateral lender.

“I…

by: Lito Villanueva (The Philippine Star)

source: https://www.philstar.com/business/2022/08/12/2202020/digital-inclusion/amp/

What truly is the formula to address the digital divide?

Over 63 million internet users in the country have been recorded as of January 2021 – which is more than half the population – and over 75 million mobile users. With these numbers, we may think that almost everybody has…