GoTyme Bank has received a “certificate of authority” from the Philippines’ central bank, which marks the final stage of clearance for the firm to operate as a digital bank in the country.

Photo credit: GoTyme Bank

GoTyme Bank is a joint venture between Tyme, a Singapore-headquartered digital banking group, and the Gokongwei Group, a Philippine-based conglomerate.

In 2021, the central bank granted licenses to six entities to open digital banks in the country. Including GoTyme, four entities have received the final go signal. These other firms are Tonik Digital Bank of Singapore, PLDT Group’s Maya Bank, and UnionDigital of Union Bank of the Philippines.