“We respectfully submit an update whereby on February 12, 2025, Mitsubishi UFJ Financial Group (MUFG) and Globe Fintech Innovations Inc. (Mynt) closed their transaction on MUFG’s acquisition of Mynt shares,” Globe said in a stock exchange filing on Thursday.
This deal, first announced in August 2024, doubles Mynt’s valuation to $5 billion, putting it on par with the country’s largest banks in terms of market position and profit potential.
Ant Group and Ayala Corp. remain key shareholders in the fintech firm, which has transformed digital payments in the Philippines.
A separate deal last October saw Mitsubishi acquiring a 6.5 percent stake in Mynt for P18 billion, reinforcing Japan’s growing investment in the Philippine fintech sector.
