Maya Bank, the digital banking arm of tycoon Manuel V. Pangilinan’s group, disbursed more than P3 billion worth of loans to micro, small and medium enterprises last year. | TyronePiad /PDI
After securing a digital banking license from the Bangko Sentral ng Pilipinas in September 2021, the company rebranded in April last year as an all-in-one money portal that also offers bills payment, fund transfer and cryptocurrency trading services, among others.Apart from a savings line that offers a 6-percent introductory interest rate, Maya also provides a virtual credit line of up to P15,000. The latter has a real-time underwriting process for instant approval.
The financial technology platform was also bullish on its crypto offering amid digital currency adoption and the popularity of play-to-earn games like Axie Infinity. Maya Bank allows users to trade digital assets for as low as P1. Last year, it said it achieved “unicorn plus” status after securing $210 million in fresh funds, bringing total capital infusion thus far to $1.4 billion. A unicorn is a startup that has a valuation of $1 billion.
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