fbpx
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • REGISTER
  • login
No Result
View All Result
No Result
View All Result
Home Featured

Tonik hints at lending and crypto products in PH

Team AsiaTechDaily by Team AsiaTechDaily
22 March 2022
in Featured, FinTech
0
Tonik
15
SHARES
Share on FacebookShare on Twitter
Bookmark (0)

Please login to bookmark

No account yet? Register

Tonik, the Philippines’ first digital-only neobank, is eyeing to expand its lending portfolio through venturing into buy now, pay later and home loans for up to P2.5 million ($50,000). Further, the neobank reveals that cryptocurrency will soon be integrated in their proprietary app to provide more opportunities for Filipinos to save using digital assets.

“Armed with our unwavering dedication to accelerate financial inclusion in the country, Tonik assures that more accessible, simplified and customer-centric banking products will be available to more Filipinos in many more years to come,” said Tonik Founder and CEO Greg Krasnov

The Philippines, he added, is one of the biggest markets in demand of crypto and lending services in the world, and that Tonik is laser-focused on making these available soon in its app.

Tonik marks its first year of operations in the country today. With its industry-leading deposit rates of up to 6% per annum (p.a.) and unique product offerings, the neobank was able to provide Filipinos a game-changing way to manage their finance through its revolutionary app.

Since its public launch, Tonik has been steadily growing. Bannering as the first in the country and one of the very few neobanks to secure its own license from the Bangko Sentral ng Pilipinas (BSP), it secured over $20 million in retail deposits in just over a month of operations.

Eight months later, the neobank then secured over $100 million in deposits– a historic record for any new bank in the Philippines.

“2021 has been a challenge for all of us, and we saw how the health crisis increased the demand for digital banking and cashless services. We are happy to have been able to provide efficient neobanking services to Filipinos as we all navigated through the pandemic,” Krasnov added.

Tonik is supervised by the BSP and deposits are insured by the Philippine Deposit Insurance Corporation (PDIC). Its unique cloud-based solution is powered by global financial technology leaders such as Mastercard, Amazon Web Services, and Finastra.

Previous Post

SG fintech Validus acquires CitiBusiness loan portfolio in Singapore

Next Post

SG Climate Tech startup Handprint raises US$2.2 million in Seed Funding Round

Related Posts

edit post
Auros
Featured

Trading platform Auros receives $17m in latest funding round

March 27, 2023
edit post
Gaspack
Featured

Gaspack scores additional funding from eMerge, Arise

March 27, 2023
edit post
Korean startup AITest.AI has established itself as a market leader in training to meet the growing demand for education in AI system testing. Recently, AITest.AI launched an innovative AI-testing training course on Udemy, a global e-learning platform, and has attained the topmost position in this field.
AI & Big Data

AITest.AI Emerges as Global Leader in Artificial Intelligence System Testing Training

March 28, 2023
edit post
PhonePe
Featured

Indian fintech PhonePe raises $200m more from Walmart

March 21, 2023
edit post
Antler
Featured

Antler to invest in over 30 startups in Indonesia this year

March 21, 2023
edit post
WeBudding
Content & Games

Korean startup WeBudding partners exclusively with the most popular free app Goodnotes 5 to provide Korean digital stationery content to users globally

March 17, 2023
Next Post
edit post
Handprint

SG Climate Tech startup Handprint raises US$2.2 million in Seed Funding Round

Discussion about this post

No Result
View All Result

Follow Us

FREE NEWSLETTER




Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback