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BSP grants license to Tonik Digital Bank


December 17, 2020 | 12:02 am
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THE BANGKO SENTRAL ng Pilipinas (BSP) approved the application for license of Tonik Digital Bank, Inc.
In Circular Letter No. 2020-060, BSP Deputy Governor Chuchi G. Fonacier said the Monetary Board approved the party’s application for a rural bank in the Philippines through Resolution No. 1979 dated Dec. 19, 2019.
“The corresponding Certificate of Authority to Operate as a rural bank was issued by the Bangko Sentral ng Pilipinas on 3 September 2020,” Ms. Fonacier said.
The lender officially started its local operations on Nov. 25.
Tonik Digital Bank is a unit of Singapore-based Tonik Financial headed by founder and Chief Executive Officer Greg Krasnov. The firm also has operations in India. ....

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