Wallets/tonik
Tonik Bank
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Overview
Tonik is the Philippines' first digital bank with BSP license, launched February 2021 [1, 2, ph-cro]. Q1 2026 — Tonik became the first standalone digital bank in the Philippines to achieve profitability — distinctive milestone [3].
Q1 2026 financial milestone:
- First Philippines standalone digital bank to achieve cash-flow profitability (without pre-existing bank/payments/telco/retail ecosystem dependency)
- Loan portfolio: USD 110 million
- Revenue run-rate: USD 60M+
- Distinctive vs: GoTyme (Gokongwei/Robinsons + Tyme JV) + Maya Bank (Maya Philippines sister) + UNObank (Singapore-led) + UnionDigital (Aboitiz-led) — Tonik is only standalone profit-achiever.
March 2025 — Tonik crossed 1 million cumulative loans disbursed [4]: Philippines' leading credit-led digital bank.
BSP digital-bank-license advantage: Tonik enables retail funding at 3-6% vs 15%+ for non-bank lenders — distinctive structural margin edge on every loan.
History
February 2021 — Tonik launches [1] as Philippines' first digital bank with BSP license.
2021-2024 — Loan portfolio expansion [3]: 7x loan-portfolio growth in 2 years; 5x unit-operational-service-cost reduction.
March 2025 — 1M+ cumulative loans disbursed milestone [4].
Q1 2026 — First Philippines standalone digital bank to achieve profitability [3].
Ownership & operator
Operating entity: Tonik Digital Bank Inc.
Founder + CEO: Greg Krasnov (Ukrainian-American digital-banking entrepreneur; ex-CEO Forum Bank Kyiv).
Major investors: Sequoia Capital India (Peak XV), Insignia Ventures, Point72 Ventures, iGlobe Partners, Mizuho Bank + others.
Regulator: BSP (Bangko Sentral ng Pilipinas) — full digital-bank license.
Technical integration
| Layer | Description |
|---|---|
| Channels | Tonik mobile app (iOS + Android) + Tonik card |
| Identifiers | Phone + email + card number |
| PH rails | instapay + qr-ph (BSP national instant payment + national QR) |
| License | BSP digital-bank license (full deposit + lending) |
| Sub-products | Payroll Loans + Shop Instalment Financing + AI-powered Digital Cash Loans + Upsell Loans + Tonik Account + Tonik Card + Time Deposits |
| Distinctive: Retail-funding 3-6% (deposit advantage) vs 15%+ non-bank lenders | |
| Customer focus: Credit-led Filipino digital banking |
Users & growth
Q1 2026 baseline [3]:
- First Philippines standalone digital bank to achieve cash-flow profitability
- Loan portfolio: USD 110 million
- Revenue run-rate: USD 60M+
- 2-year loan-portfolio growth: 7x
- 2-year unit-operational-service-cost reduction: 5x
- March 2025: 1M+ cumulative loans disbursed (since Feb 2021 launch)
Use cases
Filipino retail digital banking (deposits + cards); payroll loans + shop instalment financing + AI-powered digital cash loans + upsell loans; PH InstaPay + QR PH instant payments; first BSP-licensed digital-bank deposit-funding margin advantage.
Implementations & partners
Operator: Tonik Digital Bank Inc. (Greg Krasnov founder + CEO).
Major investors: Sequoia/Peak XV, Insignia Ventures, Point72 Ventures, iGlobe Partners, Mizuho Bank.
Major Philippine digital-bank competitors:
- GoTyme (Robinsons Bank + GCash sister; consumer + GCash integration)
- Maya Bank (Maya Philippines sister; consumer + Maya integration)
- UNObank (Singapore-led PH digital bank)
- UnionDigital (Aboitiz-led PH digital bank)
- OFBank (PH state digital bank for OFWs)
Major PH consumer-wallet adjacent:
- [[gcash]] (PH wallet leader; 81M+ users)
- maya (PH wallet rival; Maya Bank sister)
- [[shopeepay]] (Sea Group SEA)
- [[grabpay]] (Grab SEA)
Regulator: BSP.
Fun facts
- First Philippines digital bank with BSP license (Feb 2021).
- First Philippines standalone digital bank to achieve cash-flow profitability (Q1 2026) — distinctive vs ecosystem-dependent rivals.
- Founder Greg Krasnov — Ukrainian-American digital-banking entrepreneur.
- Mizuho Bank backed (alongside Sequoia + Insignia + Point72 + iGlobe Partners).
- BSP digital-bank-license deposit-funding advantage: 3-6% retail funding vs 15%+ for non-bank lenders.
- March 2025: 1M+ cumulative loans disbursed.
- 2-year metrics: 7x loan-portfolio growth + 5x unit-operational-service-cost reduction.
Comparison
| Feature | Tonik | GoTyme (Gokongwei/Robinsons + Tyme JV rival) | Maya Bank (Maya Philippines sister rival) | UnionDigital (Aboitiz-led PH digital bank) | [[gcash]] (PH wallet leader) |
|---|---|---|---|---|---|
| Operator | Tonik Digital Bank Inc. (Greg Krasnov founder; Sequoia/Peak XV + Insignia + Point72 + iGlobe + Mizuho backed) | GoTyme Bank (Gokongwei/Robinsons + Tyme JV) | Maya Bank (Maya Philippines sister) | UnionDigital (Aboitiz-led) | GCash (Globe + Ant Group + 667 Partners) |
| Type | PH first digital bank + first standalone profitability (Q1 2026) | PH digital bank + GCash integration | PH digital bank + Maya wallet integration | PH digital bank (Aboitiz-led) | PH wallet leader |
| Country | Philippines | Philippines | Philippines | Philippines | Philippines |
| License | BSP digital-bank (Feb 2021 first) | BSP digital-bank | BSP digital-bank | BSP digital-bank | BSP wallet + GCash integration |
| Distinctive | First standalone digital bank to achieve profitability Q1 2026; Ukrainian-American founder Greg Krasnov; deposit-funding 3-6% advantage vs 15%+ non-bank lenders; 1M+ cumulative loans Mar 2025 | GCash-ecosystem-integrated; Robinsons retail + GCash payment | Maya-wallet-integrated | Aboitiz-led | 81M+ users |
Status
Active, Philippines' first BSP-licensed digital bank + first standalone to achieve profitability [1, 3]:
- Tonik Digital Bank Inc. (Greg Krasnov founder) since February 2021.
- Q1 2026 — First Philippines standalone digital bank to achieve cash-flow profitability.
- Loan portfolio USD 110M + revenue run-rate USD 60M+.
- 1M+ cumulative loans disbursed (March 2025).
- BSP digital-bank license + 3-6% retail-funding advantage.
Sources
- 1 Tonik Bank — official
- 2 Tonik (bank) — Wikipedia
- 3 Tonik first standalone digital bank profitability — Insignia
- 4 Tonik surpasses 1M loans — PR Newswire
- ph-cro In-corpus:
reports/countries/PH-philippines.md
Source
Biography extracted from tonik.md. See matrix.md for standards-support matrix if present.