Finance Secretary Ralph G. Recto has successfully secured the entry of Revolut, the United Kingdom’s financial technology firm giant, into the Philippine market through the establishment of its second Global Tech Hub in Asia––a direct result of sustained investor dialogues.

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

“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 Secretary 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,” he added.

Revolut’s upcoming Manila tech hub will be its second in Asia, following the launch of its first in India in 2021.

Revolut operates in major Asia-Pacific markets including Japan, Australia, Singapore, and New Zealand. It is also the most downloaded financial application in Europe in 2024, solidifying its market reach in the region. The Manila Hub will anchor its expansion in Southeast Asia.

The successful 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.

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 announcement follows the 2024 Philippine Economic Briefing (PEB) in London, where Secretary Recto made a strong case for the country’s compelling investment fundamentals: a stable macroeconomic environment, resilient fiscal framework, robust middle class, and an accelerating digital shift.

He also championed the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, which offers one of the most competitive fiscal incentive packages in the region, while simplifying compliance and reducing business friction.

Earlier this year at the World Economic Forum (WEF) in Davos, Switzerland, Secretary Recto engaged with Revolut Chairman Martin Gilbert, who acknowledged the Philippines’ unique potential as a regional FinTech and innovation hub.

This was followed by a courtesy call from Revolut Southeast Asia CEO Raymond Ng in Manila, who expressed a strong commitment to fast-tracking 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,” Revolut Southeast Asia CEO Ng said.

With over 60 million users worldwide and a goal of reaching 100 million, Revolut is ramping up efforts to deliver innovative, user-centric financial solutions globally, with the Philippines now playing a key role in that vision.