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Finance Secretary Benjamin E. Diokno stated that the administration of President Ferdinand Marcos, Jr. is determined to fuel the Philippines’ growth momentum by building a policy environment that is conducive to sustainable digital finance.
Finance Secretary Benjamin E. Diokno and Ambassador of India to the Philippines Shambhu Santha Kumaran signed a memorandum of understanding (MOU) on June 19, 2023 at the Department of Finance (DOF) office in Manila to enhance cooperation between the Philippines and India in the field of Financial Technology (FinTech).
SBI Remit, part of Asian fintech powerhouse SBI, has been tapping Ripple for its international money transfer service since 2017.In 2021 it began using XRP as a bridge between two fiat currencies to perform cross border remittances from Japan to a digital wallet in the Philippines. From this month, the effort will be expanded to bank accounts in the Philippines, Vietnam, and Indonesia.