The Philippines' Department of Finance announced that Finance Secretary Ralph G. Recto has secured Revolut’s entry into the Philippine market, with the United Kingdom fintech planning to establish a Global Tech Hub in Manila as its second hub in Asia. The investment follows investor engagements led by Recto in London (October 2024), Davos (January 2025) and Manila (2025). The Manila hub follows Revolut’s first Asian tech hub in India (2021) and is positioned as a base for its Southeast Asia expansion; Revolut cited the Philippines’ talent pool and consumer demographics, while the government highlighted structural reforms and the CREATE MORE Act as part of its wider investor proposition. Revolut reported it has over 60 million users globally and is targeting 100 million, and its Southeast Asia CEO Raymond Ng indicated the company intends to fast-track Philippine operations.
Department of Finance (Philippines) 2025-07-30
Philippines' Department of Finance announces Revolut will enter the market by setting up a Manila Global Tech Hub
The Philippines' Department of Finance announced that Finance Secretary Ralph G. Recto has facilitated Revolut's entry into the Philippine market, with plans to establish a Global Tech Hub in Manila. This move follows investor engagements in London, Davos, and Manila, and marks Revolut's second Asian hub after India. The hub aims to support Revolut's Southeast Asia expansion, leveraging the Philippines' talent pool and consumer demographics.