Tonik, a digital bank or ‘neobank,’ plans to expand its lending services in the next 12 months by launching buy now, paying later, and housing loans up to Php 2.5 million (USD 50,000). Tonik also stated that bitcoin will be integrated into their proprietary software of the same name to give Filipinos “additional possibilities to save utilizing digital assets.”

Tonik celebrated its first year of operations in the Philippines on March 22nd by offering finance services such as loan, deposit, payment, and card products, all of which are available through its digital banking platform. It offers deposit rates of up to 6% per year (p.a.).
In a press release, Tonik Founder and CEO Greg Krasnov stated, “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.”
Tonik is one of the few neobanks to receive a license from the Philippines’ central bank, the Bangko Sentral ng Pilipinas (BSP), and has amassed over PHP 5 billion (USD 100 million) in customer deposits in its first eight months of operation.
Tonik is a cloud-based financial system with MasterCard, Amazon Web Services, and Finastra as partners. It is supervised by the BSP, while the Philippine Deposit Insurance Corporation insures its deposits (PDIC).
Tonik’s bio can be found here.