LuLu Financial Group acquires digital money licence in Philippines

LuLu-Phils International Exchange, Inc. a subsidiary of the UAE-based LuLu Financial Group, has received approval from Bangko Sentral ng Pilipinas (BSP) to diversify into electronic money, it said on Tuesday.

BSP has granted the electronic money issuer (EMI) licence, which allows LuLu-Phils International Exchange to move into the digital wallet space. LuLu-Phils International Exchange is currently engaged in remittances and currency exchange.

Source: GulfNews. Read full article here