TL;DR
- A $60 billion tokenization opportunity identified in the Philippines by a new study.
- Tokenized public equities and government bonds represent the largest potential markets.
- High crypto ownership and wallet penetration prepare the country for rapid adoption.
A new assessment from the Philippine Digital Asset Exchange (PDAX), Saison Capital and Onigiri Capital outlines a sixty-billion-dollar window for asset tokenization in the country, supported by rapid adoption of mobile wallets and growing interest in digital assets among retail users.
Project Bayani, the study released on Thursday, frames a model where citizens gain access to investment products through tokenized formats that rely on blockchain rails already present in millions of devices.
Project Bayani measures possible expansion across several product lines. Public equities lead projections with twenty-six billion dollars, followed by twenty-four billion dollars in government bonds and six billion dollars in mutual funds. Authors view tokenization as a channel for wider financial inclusion in a market where many workers remain outside formal banking.
Nichel Gaba, founder and chief executive of PDAX, highlights the country’s advantage. Gaba explains that blockchain-enabled wallets operate as a ready-made gateway for tokenized investment flows. GCash, PDAX, Maya and Coins.ph support crypto features that allow users to hold digital assets with low entry points and simple onboarding.
“We’re not starting from scratch. The infrastructure to deliver tokenized assets to millions of Filipinos already exists in their pockets. Our focus now is to connect that infrastructure to real, regulated financial products.” – Gaba
The report underscores rapid progress in tokenized government bonds
PDAX and GCash distribute products starting from five hundred pesos, a feature that lowers minimum requirements and opens the door to broader participation. Data from the Treasury shows strong engagement among retail savers who opt for digital formats over traditional channels.
Sharon P. Almanza, Treasurer of the Philippines, acknowledges the momentum. Almanza notes that millions of citizens interact with government bonds through mobile-based channels, a shift that enhances access to public instruments and encourages habits linked to long-term savings.
Crypto ownership reaches fourteen percent of the population, far above conventional stock and bond participation. Wallet penetration accelerates learning curves for digital assets and prepares the country for wider adoption of tokenized products in the coming years. PDAX and partner platforms plan to keep expanding distribution networks to maintain engagement among new investors.
