Virtual asset service providers are licensed by the central bank, which has frozen new licences since 2022 except for some banks. This page sets out the authorisations a stablecoin business needs in the Philippines, who grants each one and what it covers, alongside how many companies hold them today. The figures come from the registers Anvesan reads and are updated as those registers change.
RegulatorBangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC)
LawBSP Circular 1108 (2021) and the SEC's crypto-asset service provider rules (2025)
Registers readBSP
Source type9 register-sourced, 2 company-reported
Checked19 September 2026
Authorisations in Philippines, as at 19 September 2026
Authorisations11across 2 licence families
Licensed11all 11 authorisations
In the pipeline0No live applications
Ended0No ended authorisations
Authorisations by licence
Philippines BSP virtual asset service provider licence82%9
Other authorisations18%2
These 11 authorisations belong to 9 companies. The company-level records are in Atlas Pro.
What those authorisations permit
Scope not stated in the licence11
One authorisation can cover several activities, so these figures overlap.
The licences: who grants them, how long, what they cost
The statutory clock is the formal decision period, where the regulator publishes one. “Observed” is the real-world timeline reported by applicants, not a figure the regulator sets. Capital is the regulatory minimum, not legal or advisory fees. Where a figure is not yet available, we show “Unavailable”; where one exists but Anvesan has not verified it, we show “Not sourced”.
The Atlas column maps a licence to a tracked licence family only where the two are the same thing. Where they are not, it reads Not mapped, and the family counts are in Authorisations by licence above.
Philippines BSP virtual asset service provider licence
9 in the Atlas
Who grants it
Bangko Sentral ng Pilipinas (BSP)
What triggers it
Not sourced
Legal basis
BSP Circular 1108 (2021)
Statutory clockNot sourced
Anvesan has not verified this for this regime yet. It is added when it is.
What it takes in practiceNot sourced
Anvesan has not verified this for this regime yet. It is added when it is.
Capital requirement
Not sourced
Application feeNot sourced
What to watch
Regulatory changes only: what is being decided, by whom, and when. Company-level licence changes are tracked in Atlas Pro.
Questions this page answers
How many companies hold a stablecoin-related licence in the Philippines?
Atlas tracks 11 authorisations across 9 companies in the Philippines, read from official registers and checked on 19 September 2026. Of those, 11 are licensed, 0 are in the pipeline, and 0 have ended.
Who regulates stablecoins in the Philippines?
Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC). The framework is BSP Circular 1108 (2021) and the SEC's crypto-asset service provider rules (2025).
What licence does a stablecoin business need in the Philippines?
This page lists one authorisation, with the regulator that grants it and what triggers the requirement.
How long does a licence take in the Philippines, and what capital does it need?
Anvesan has not verified decision timelines or capital thresholds for the Philippines yet, so this page does not publish them. It publishes no figure it cannot cite.
How these numbers are made
Registers read
The official registers used for this regime, named in the Registers read line. Where a public register does not provide a record, the source is identified separately.
Cadence
Checked daily. Changes are recorded when they appear in the register, together with the date they were seen. Last checked 19 September 2026.
Licence detail reviewed
23 September 2026. Counts are refreshed daily. Licence terms, timelines and capital thresholds are reviewed separately because they come from the underlying rules rather than the register.
Known gap
“Unavailable” means the figure does not yet exist or has not been published. “Not sourced” means the figure exists but Anvesan has not yet verified it. Neither is estimated.