Switzerland's additiv said that this is the first time it has had an office in the country.

additiv, a fintech, has opened its new office in Manila, Philippines. This is the first time that the firm has had a physical presence in the Asian nation, a spokesperson told WealthBriefingAsia.

The firm said it was making the move at a time when the Philippines has become “one of the fastest growing economies in Southeast Asia” and is embracing digital financial services.

“The Philippines is at a pivotal moment in its digital finance evolution, with strong regulatory support for digital banking and a rapidly growing middle class eager for innovative investment solutions,” Anurag Pandey, general manager and head, Asia-Pacific at additiv, said.

The business is headquartered in Switzerland with regional offices in Singapore, Indonesia, the Philippines, the UAE, Germany, the UK, and development centres in Central and Eastern Europe. It serves more than 400 financial institutions (banks, insurers, asset managers, pension providers, independent financial advisors, and other firms).