Philippine Digital Bank Maya Explores US IPO Worth Up to $1 Billion

Philippine digital bank Maya is exploring a US initial public offering that could raise up to $1 billion, according to a report by Bloomberg.

The company is currently working with financial advisers on the deal, which could happen as early as this year.

Maya operates under a digital banking license from the Bangko Sentral ng Pilipinas and offers savings accounts, consumer loans, payment services, merchant services, and in-app cryptocurrency trading under a regulated virtual asset service provider framework.

The digital bank had 5.4 million customers and disbursed $1.2 billion in loans in 2024.

A US listing would provide access to deeper capital pools and broaden the institutional investor base compared to regional markets, which have experienced limited large-scale tech IPOs recently.

US IPO activity recovered in 2025 with 202 listings raising approximately $44 billion — a four-year high in deal count.

Legal expert Nathan Marasigan noted that if "bank fundamentals are strong and the crypto component is clearly controlled and non-disruptive to Maya's core story," it could support timing success. Investors currently favour "predictability or a clear profitability trajectory, disciplined risk management, and governance."

Maya's main competitor in the Philippine digital payments space, GCash, previously postponed a planned Manila IPO to the second half of 2026.