Tonik to venture into crypto, more lending services

Digital-only neobank Tonkis looking forward to expanding its lending portfolio after recently celebrating its first-year anniversary.

This includes venturing into buy now, pay later and home loans for up to PhP 2.5 million.

Furthermore, the company revealed that soon, cryptocurrency will be integrated into their proprietary app to provide more opportunities for Filipino users to save.

Record-setting first year

Since its launch, Tonik has been steadily growing, securing over PhP 5 billion in retail deposits in its first year.

Tonik has industry-leading deposit rates of up to 6 percent per annum on top of unique product offerings.

The neobank is recently backed up by their latest Series B funding of US$ 131 million led by Mizuho Bank, assuring customers of more innovations.

Supervised by the Bangko Sentral ng Pilipinas (BSP) and deposits insured by the Philippine Deposit Insurance Corporation (PDIC), Tonik’s cloud-based solution is also powered by global financial technology leaders such as Mastercard, Amazon Web Services, and Finastra.

The post Tonik to venture into crypto, more lending services appeared first on GadgetMatch.

Tonik to venture into crypto, more lending services Tonik to venture into crypto, more lending services Reviewed by Telenor Editorial on March 26, 2022 Rating: 5

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