Philippines tokenized-asset market seen hitting ₱3.4 trillion by 2030
By Derco Rosal
The Philippines’ tokenized-asset market is estimated to reach ₱3.4 trillion in five years, driven primarily by government bonds and public equities, amid the rapid adoption of digital assets.
A landmark white paper, “2025 Project Bayani: The Philippines’ Asset Tokenization Opportunity,” projects the country’s tokenized-asset market could hit around $60 billion by 2030, covering “government bonds, mutual funds, equities, and other investment assets.”
The report, a collaboration among the Philippine Digital Asset Exchange (PDAX), Saison Capital, and Onigiri Capital, indicated the Philippines is prepared “to leapfrog traditional finance by leveraging familiar mobile wallet infrastructure, such as GCash and PDAX, to securely and inclusively distribute tokenized investment products.”
Despite the swift adoption of tokenization and cryptocurrencies, the white paper noted the country is “lagging in the adoption of traditional investment products.”
Less than five percent of Filipinos own stocks, bonds, or mutual funds, compared with 14 percent who own cryptocurrencies.
“Major mobile wallets like GCash, PDAX, Maya, and Coins.ph have embedded blockchain-enabled wallets that already allow users to hold cryptocurrencies and tokenized investment products, allowing for easy distribution without new distribution rails or legacy overhauls,” PDAX said in a statement.
Tokenized bonds, facilitated through PDAX and GCash, have already demonstrated wide distribution and lowered the minimum entry barrier to just ₱500, making investment accessible to first-time investors nationwide.
The Bureau of the Treasury’s (BTr) August launch of GBonds—a version of retail treasury bonds (RTB) distributed in partnership with PDAX and GCash—highlighted this trend.
National Treasurer Sharon P. Almanza said the partnership “brought government bonds directly to the fingertips of millions of Filipinos.”
“Tokenized investment products can become the most widely distributed version of traditional investment products, building on the experience with tokenized bonds, where nearly half of all bond account holders hold bonds in tokenized form,” PDAX added.