Manila: United Kingdom's financial technology firm giant Revolut will enter the Philippine market through the establishment of its second Global Tech Hub in Asia, the Department of Finance (DOF) said.

According to Philippines News Agency, the investment is the outcome of sustained investor engagements led by Finance Secretary Ralph Recto in London (October 2024), Davos (January 2025), and Manila (2025), positioning the Philippines as a rising hotspot for global tech and financial innovation.

The investment deal aligns with President Ferdinand R. Marcos Jr.'s directive to roll out the red carpet for investors through a suite of structural reforms designed to make the Philippines a globally competitive business destination. 'I thank Revolut for being a wonderful partner in this endeavor. The tech hub in Manila is not just an investment, it's a commitment to the Filipino people,' said Recto.

'It will generate high-quality jobs, expand our digital capabilities, and empower Filipinos with cutting-edge financial tools. This is a clear product of our global roadshows turning investment pledges into reality.'

Revolut's upcoming Manila tech hub will be its second in Asia, following the launch of its first in India in 2021. It operates in major Asia-Pacific markets including Japan, Australia, Singapore, and New Zealand.

According to the DOF, Revolut said its decision to set up in Manila reflects strong confidence in the country's economic momentum and deep talent pool. The hub is expected to drive digital upskilling and support the government's push to build a future-ready digital economy.

The DOF said Revolut Southeast Asia chief executive officer Raymond Ng visited Manila earlier this year and expressed a strong commitment to fast-track the company's Philippine operations. 'The Philippines is a very interesting market because we can see that it's a very young population with a lot of talent, very mobile savvy, very into learning about all things money. And Revolut is all about bringing value to the consumer so that they learn about the financial services,' Ng said.