Crypto News Press Release Report

Philippines’ tokenized assets could reach $60b by 2030: PDAX report

• ByStartupStory     |    November 30, 2025

Project Bayani White Paper Projects Equities And Bonds Leading Tokenization Boom

The Philippines stands poised to unlock a $60 billion tokenized asset market by 2030, equivalent to roughly P3.5 trillion, according to the “Project Bayani: The Philippines’ Asset Tokenization Opportunity” white paper jointly released by the Philippine Digital Asset Exchange (PDAX), Saison Capital, and Onigiri Capital. This conservative baseline—representing about 5% of total deposits and securities value—will be driven primarily by public equities at $26 billion, government bonds at $24 billion, mutual funds at $6 billion, and other assets at $4 billion, fueled by the country’s high cryptocurrency adoption and existing blockchain wallet infrastructure.​

Crypto-First Nation Leapfrogs Traditional Finance Barriers

With 14% of Filipinos holding cryptocurrencies—far surpassing stock ownership at 2.4%, bonds under 1%, and mutual funds below 5%—the archipelago benefits from a “tokenized-first” advantage. Nearly half the population was unbanked as recently as August 2025, yet platforms like GCash, PDAX, Maya, and Coins.ph already serve millions with blockchain-enabled wallets, enabling seamless entry into regulated investments starting at P500 (~$8.50). PDAX founder and CEO Nichel Gaba emphasized: “We aren’t beginning from ground zero. The necessary infrastructure to provide tokenized assets to millions of Filipinos is already at their fingertips.”​

This positions the Philippines ahead of regional peers, where crypto familiarity outpaces traditional assets, paving the way for rapid scaling via public-private collaborations. The report highlights how digital wallets function as ready distribution channels, bypassing legacy systems and accelerating financial inclusion amid BSP’s progressive digital asset frameworks and SEC regulations.​

Tokenized Bonds Pioneer Low-Entry Investments

Early momentum comes from tokenized government bonds, where PDAX and GCash collaborations with the Bureau of the Treasury have slashed minimums to P500, doubling bondholder accounts post-GBonds launch. Nearly half of new government bond accounts now hold tokenized versions, demonstrating demand for accessible digital products. National Treasurer Sharon Almanza hailed the partnership: “This collaboration has brought government bonds straight to the hands of millions of Filipinos, signifying a substantial step in democratizing access to financial instruments.”​

Project Bayani anticipates tokenized equities dominating due to liquidity and familiarity via apps, while bonds provide stability amid 15 million projected crypto users by year-end. Mutual funds and alternatives follow, with consumer platforms enabling one-tap diversification without brokerage hurdles.​

Regulatory Tailwinds And Global Context

Bangko Sentral ng Pilipinas (BSP) and Securities and Exchange Commission (SEC) frameworks underpin growth, with tokenized RWAs eyed as a $400 trillion global opportunity per Animoca Brands research—$16 trillion by 2030 per SkynetWA. Philippines’ 14% crypto penetration mirrors global trends where tokenized U.S. Treasuries hit $2.2 trillion this year, but local scale amplifies impact in an emerging economy.​

The white paper serves as a baseline, with upside tied to first-time participation via wallets. Gaba noted tokenized assets link blockchain infrastructure to regulated products, fostering a “tokenized-first” capital market transformation.​

Economic Implications And Roadmap Ahead

This $60 billion projection could redefine Philippine capital markets, empowering unbanked masses and channeling remittances (10% of GDP) into productive assets. Equities tokenization taps retail enthusiasm, bonds fund infrastructure, and funds enable passive growth, aligning with 6-7% GDP targets.

Challenges include interoperability, custody standards, and education, but pilots validate viability. PDAX eyes expansions: deeper wallet integrations, fractional real estate, and DeFi yields on bonds. As Almanza affirmed, such innovations enhance inclusion, positioning the archipelago as Southeast Asia’s tokenization leader.

Follow Startup Story