Philippines’ tokenized assets could reach $60b by 2030: PDAX report
3 min read
Crypto News
Press Release
Report
- November 30, 2025
White Paper Forecasts Equities and Bonds Driving Tokenization Surge
The Philippines has the potential to unlock a $60 billion (approximately ₱3.5 trillion) tokenized asset market by 2030, according to a white paper titled Project Bayani: The Philippines’ Asset Tokenization Opportunity. Developed jointly by the Philippine Digital Asset Exchange (PDAX), Saison Capital, and Onigiri Capital, the report identifies this conservative estimate—equivalent to about 5% of the nation’s total deposit and securities value—as driven primarily by public equities ($26 billion), government bonds ($24 billion), mutual funds ($6 billion), and other assets ($4 billion). High cryptocurrency adoption and existing blockchain wallet infrastructure are expected to propel this growth.
Digital-First Strategy Overcomes Traditional Financial Hurdles
With cryptocurrency ownership at 14% among Filipinos—far exceeding stock ownership (2.4%), bond investments (less than 1%), and mutual fund participation (under 5%)—the country benefits from a “digital-first” financial landscape. Nearly half the population was unbanked as of August 2025, yet platforms like GCash, PDAX, Maya, and Coins.ph already provide blockchain-enabled wallets to millions, allowing users to start regulated investments with as little as ₱500 (~$8.50). Nichel Gaba, CEO of PDAX, emphasized, “The foundation is already in place. Millions of Filipinos have the tools to access tokenized assets right now.”
This positions the Philippines ahead of regional counterparts, where familiarity with digital assets surpasses traditional finance. The paper highlights how digital wallets act as distribution channels, bypassing legacy systems and accelerating financial inclusion under progressive frameworks from the Bangko Sentral ng Pilipinas (BSP) and Securities and Exchange Commission (SEC).
Tokenized Bonds Revolutionize Accessible Investing
Early progress is visible in tokenized government bonds, where partnerships between PDAX, GCash, and the Bureau of the Treasury have reduced minimum investments to ₱500. Following the launch of GBonds, bondholder accounts doubled, with nearly half of new accounts holding tokenized versions. Sharon Almanza, National Treasurer, stated, “This initiative puts government bonds within reach of millions, democratizing access to financial tools.”
Project Bayani predicts tokenized equities will gain prominence due to liquidity and ease of use through mobile apps. Bonds are expected to offer stability as crypto users in the Philippines approach 15 million by year-end, while mutual funds and alternative assets offer simplified diversification.
Regulatory Support and Global Momentum
The BSP and SEC’s frameworks will underpin this growth, with tokenized real-world assets globally projected to reach $400 trillion (per Animoca Brands) and $16 trillion by 2030 (per SkynetWA). The Philippines’ 14% crypto adoption mirrors international trends—such as the $2.2 trillion tokenized U.S. Treasury market—but local conditions magnify its impact in an emerging economy.
The white paper serves as a starting point, with growth tied to leveraging digital wallets to onboard first-time investors. Gaba added that tokenization bridges blockchain infrastructure with regulated financial products, reshaping capital markets through a digital-first approach.
Economic Impact and Future Opportunities
A $60 billion tokenized market could reshape the Philippines’ financial landscape, empowering the unbanked and redirecting remittances (10% of GDP) toward productive assets. Tokenized equities could harness retail enthusiasm, bonds could fund infrastructure, and mutual funds could support passive wealth growth—aligning with national GDP targets of 6-7%.
Challenges like interoperability, custody standards, and investor education remain, but pilot projects validate the model’s viability. PDAX plans to expand into fractional real estate and decentralized finance (DeFi) yield opportunities, further cementing the country’s role as Southeast Asia’s tokenization leader.
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