# Tonik Bank

> Source: https://docs.barcoder.ai/docs/wallets/tonik
> research date 2026-05-29 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Tonik Bank — official](https://tonikbank.com/)

## Overview

**Tonik** is **the Philippines' first digital bank with BSP license**, launched **February 2021** <sup>[1][1], [2][2], [Philippines report](https://docs.barcoder.ai/docs/payments/PH)</sup>. **Q1 2026 — Tonik became the first standalone digital bank in the Philippines to achieve profitability** — distinctive milestone <sup>[3][3]</sup>.

**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** <sup>[4][4]</sup>: 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** <sup>[1][1]</sup> as Philippines' first digital bank with BSP license.

**2021-2024 — Loan portfolio expansion** <sup>[3][3]</sup>: 7x loan-portfolio growth in 2 years; 5x unit-operational-service-cost reduction.

**March 2025 — 1M+ cumulative loans disbursed milestone** <sup>[4][4]</sup>.

**Q1 2026 — First Philippines standalone digital bank to achieve profitability** <sup>[3][3]</sup>.

## 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](https://docs.barcoder.ai/docs/standards/instapay) + [QR Ph](https://docs.barcoder.ai/docs/standards/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** <sup>[3][3]</sup>:
- **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](https://docs.barcoder.ai/docs/wallets/gcash)** (PH wallet leader; 81M+ users)
- **[Maya / PayMaya](https://docs.barcoder.ai/docs/standards/maya)** (PH wallet rival; Maya Bank sister)
- **[ShopeePay](https://docs.barcoder.ai/docs/wallets/shopeepay)** (Sea Group SEA)
- **[GrabPay](https://docs.barcoder.ai/docs/wallets/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](https://docs.barcoder.ai/docs/wallets/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** <sup>[1][1], [3][3]</sup>:
- **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]: https://tonikbank.com/ "Tonik Bank — official"
[2]: https://en.wikipedia.org/wiki/Tonik_(bank) "Tonik (bank) — Wikipedia"
[3]: https://review.insignia.vc/2026/05/13/tonik-profitability/ "Tonik first standalone digital bank profitability — Insignia Business Review"
[4]: https://www.prnewswire.com/apac/news-releases/tonik-surpasses-1-million-loans-redefining-consumer-lending-in-the-philippines-302393936.html "Tonik surpasses 1M loans Mar 2025 — PR Newswire"
[ph-cro]: https://docs.barcoder.ai/docs/payments/PH

- [1] [Tonik Bank — official][1]
- [2] [Tonik (bank) — Wikipedia][2]
- [3] [Tonik first standalone digital bank profitability — Insignia][3]
- [4] [Tonik surpasses 1M loans — PR Newswire][4]
- <sup>[Philippines report](https://docs.barcoder.ai/docs/payments/PH)</sup> In-corpus: `reports/countries/PH-philippines.md`

## Source

Biography extracted from [tonik.md](https://docs.barcoder.ai/source/wallets/tonik). See `matrix.md` for standards-support matrix if present.