The Philippines has a $60 billion opportunity to transform its capital markets through asset digitization, according to the Project Bayani report by PDAX, Saison Capital, and Onigiri Capital. The study shows that millions of Filipinos, who have already used e-wallets and cryptocurrencies, could move beyond traditional finance to own government bonds, stocks, and mutual funds in tokenized form.
The tokenized asset market is expected to reach 60 billion USD by 2030, led by public stocks (26 billion USD), government bonds (24 billion USD), and mutual funds (6 billion USD). Currently, 14% of the population owns cryptocurrency, far exceeding stocks (2.4%) and bonds (<1%), while major wallets like GCash, PDAX, Maya, and Coins.ph support the management of tokenization.
Tokenized bonds starting from 500 pesos (~8.5 USD) have expanded mainstream access, with nearly half of account holders owning the token form. The Ministry of Finance collaborates with PDAX and GCash to promote widespread adoption, increasing financial inclusion.
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