Revolut Expands Presence in Asia with New Tech Hub in the Philippines

Revolut, the UK-based financial technology firm, opened its second Global Tech Hub in Asia in the Philippines, an investment largely attributed to ongoing discussions led by Finance Secretary Ralph Recto.

The new tech hub is a direct result of Recto’s investor engagements in London in October 2024, Davos in January 2025, and Manila, which have positioned the Philippines as a growing hub for global technology and financial innovation.

Recto expressed gratitude towards Revolut for their partnership, stating that the tech hub in Manila signifies not just an investment but a commitment to the Filipino people.

He emphasized that the hub will create high-quality jobs, enhance digital capabilities, and provide Filipinos with advanced financial tools, showcasing the successful conversion of investment pledges into reality through global roadshows.

The Manila tech hub marks Revolut’s second in Asia, following its initial hub in India established in 2021. Revolut is present in key Asia-Pacific markets such as Japan, Australia, Singapore, and New Zealand, and was the most downloaded financial application in Europe in 2024. The Manila hub is set to drive its expansion in Southeast Asia.

This investment aligns with President Ferdinand R. Marcos Jr.’s strategy to attract investors by implementing structural reforms to position the Philippines as a globally competitive business destination.

Revolut's decision to set up operations in Manila reflects its strong confidence in the country’s economic progress and skilled workforce. The hub is expected to enhance digital skills and support the government’s efforts towards a future-ready digital economy.

The announcement follows the 2024 Philippine Economic Briefing (PEB) in London, where Recto highlighted the country’s investment strengths, including a stable macroeconomic environment, resilient fiscal framework, a strong middle class, and a growing digital transformation.

Recto also advocated for the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, which provides competitive fiscal incentives and aims to streamline compliance and reduce business barriers.

Earlier this year, during the World Economic Forum (WEF) in Davos, Switzerland, Recto met with Revolut chairman Martin Gilbert, who recognized the Philippines’ potential as a regional FinTech and innovation hub. This was followed by a visit to Manila from Revolut Southeast Asia CEO Raymond Ng, who expressed a strong commitment to accelerating the company’s operations in the Philippines.

Raymond Ng highlighted the Philippines’ appeal as a market with a young population, abundant talent, high mobile usage, and a keen interest in financial literacy, aligning with Revolut’s goal of educating consumers about financial services.

With a global user base exceeding 60 million and a target of 100 million users, Revolut is intensifying its efforts to provide innovative financial solutions worldwide, with the Philippines now playing a pivotal role in this vision.

According to the source: Manila Standard.