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Manila, 30 March 2022 – Fintech is rapidly expanding in the Philippines, driven by the country’s booming digitalization, a favorable regulatory environment, and the government’s ongoing efforts to improve financial inclusion.

Significant trends, according to a recent report,1 include rising acceptance of cryptocurrencies and a thriving digital asset industry, booming usage of digital payments as a result of government modernization initiatives, and the emergence of the country’s first branchless, virtual banks.

By 2023, the Bangko Sentral ng Pilipinas (BSP) or the Philippine Central Bank envisions that 50% of total retail transaction volume will be digital and 70% of Filipino adults will be financially included.

To learn more about the latest legal developments in the country’s fintech space, access the Philippine chapter of Chambers and Partners Fintech Guide, authored by Quisumbing Torres Partners Dennis Quintero and Divina Ilas-Panganiban and Associates Neonette Pascual and Kristina Navarro.

The guide provides the latest regulatory information on sandboxes, robo-advisers, online lenders, payment processors, marketplaces, exchanges and trading platforms, high-frequency and algorithmic trading, financial research platforms, insurtech, regtech, blockchain, non-fungible tokens (NFTs) and open banking.


Quisumbing Torres provides the full range of legal services for financial institutions (FI) and fintech innovators

The firm’s cross-practice teams in the FI and Technology, Media & Telecommunications Industry Groups provide strategic advice on fintech matters, including data protection, regulatory compliance, tax structuring, capital raising, consumer protection, commercial contracts, M&A, competition law and employment matters.

We have been advising financial institutions, global digital leaders, technology incubators and start-ups — the entire value chain of the fintech industry — across a broad range of subsectors including e-payment platforms, cryptocurrency, digital banking and peer-to-peer lending ahead of many other law firms. ————–

1 Philippines Fintech Report 2022 (; accessed 28 March 2022


Dennis Quintero is a partner in the Corporate & Commercial/M&A Practice Group of Quisumbing Torres. He heads the Firm's Energy, Mining & Infrastructure and Financial Institutions Industry Groups. He is part of the Firm’s Competition Focus Group. He is cited as a Market Leader by the IFLR 1000: Financial and Corporate Guide 2018-2020. He is consistently ranked as a leading individual in Corporate and M&A by The Legal 500 Asia Pacific and as a leading individual in Projects, Infrastructure, and Energy/Natural Resources and Mining by the leading international legal directories (i.e., Chambers Global and Asia Pacific, IFLR1000/The Petroleum Economist, and The Legal 500 Asia Pacific). Dennis is also a Certified Public Accountant. He was appointed co-chair of the 2013 Conference of the International Bar Association and Australian Resources and Energy Law Association Southeast Asia in Singapore. He is a member of the Association of International Petroleum Negotiators. He was cited as one of IFLR’s Asia’s Best Lawyers for 2019 and 2020 (Energy & Infrastructure, M&A, Project Finance) and among Asia Business Law Journal’s “A-List” of the Top 100 lawyers in the Philippines.


Divina Ilas-Panganiban is a partner in Quisumbing Torres’ Intellectual Property, Data and Technology Practice Group and co-heads the Technology, Media & Telecommunications (TMT) Industry Group. She participates in initiatives of Baker & McKenzie International of which Quisumbing Torres is a member firm. She is a member of Baker & McKenzie International's Asia Pacific TMT Steering Committee. She currently serves as the Vice-President and Director of the Philippine Chapter of the Licensing Executives Society International, the Chairperson of the Committee on Intellectual Property Rights, The American Chamber of Commerce of the Philippines, and the Chairperson of the Committee on Intellectual Property Rights of the European Chamber of Commerce. Divina heads the Subcommittee for East Asia and the Pacific of the Unreal Campaign of the International Trademarks Association (INTA) and is a Certified Information Privacy Manager by the International Association of Privacy Professionals (IAPP).


Kristina R. Navarro is an associate in Quisumbing Torres' Corporate & Commercial/M&A Practice Group and a member of the Financial Institutions Industry Group and Fintech Focus Group. She has five years of experience in financial services, fintech, and loans and credit facilities.

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