Tokenization is poised to open a vast new financial market in the Philippines, with fresh analysis pointing to a multibillion-dollar opportunity driven by rapid retail adoption and expanding blockchain access.
Report Sees Philippines’ $60B Tokenized Market as Entry Point With Upside
Philippine Digital Asset Exchange (PDAX), Saison Capital, and Onigiri Capital released a report projecting that tokenization could unlock a $60 billion market in the Philippines by 2030. The report anticipates rapid retail adoption as blockchain wallets and mobile platforms reshape access to bonds, mutual funds, and equities.
PDAX stated on Nov. 27 on social media platform X: “We are pleased to officially unveil Project Bayani: The Philippines’ Asset Tokenization Opportunity! This report, co-authored with Saison Capital and Onigiri Capital, details the multi-billion dollar path to true financial inclusion via blockchain-based tokenization.” Project Bayani, a research initiative by the three firms, examines how tokenization could advance financial inclusion in the Philippines by lowering ownership barriers, supporting the shift toward a tokenized capital market and outlining the potential market size by 2030.
The report presents a forward-looking assessment of the country’s tokenized financial landscape and outlines the scale of the opportunity: “This analysis led to an estimated tokenized market opportunity of USD 60 billion by 2030.” It adds:
The estimated tokenization opportunity of USD 60 billion by 2030 is not a ceiling, but a starting point.
“This USD 60 billion represents approximately 5% of the total value of deposits and securities in 2030. Considering that the number of bondholders nearly doubled following the launch of GBonds, this estimate is well-grounded. Several factors could drive expansion beyond this baseline,” the report notes.
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According to the report, fractional access, automated compliance, and distribution through GCash, Maya, PDAX, and Coins.ph could significantly broaden retail participation.
“In this light, the USD 60 billion projection is best viewed as a conservative floor – the minimum viable opportunity that is achievable by 2030 based on today’s trajectory,” the report states, adding:
The real upside will depend on how quickly the Philippines can scale first-time participation through public-private partnerships, enabling infrastructure, and continued regulatory innovation.
The report forecasts an expansion from around 1 million to more than 10 million asset holders in the near term, with long-term potential approaching 100 million as blockchain wallets reach nationwide saturation.
FAQ ⏰
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What is the projected size of the Philippines’ tokenized asset market by 2030?
The report projects a $60 billion tokenization opportunity by 2030. -
Which platforms could drive broader tokenized asset adoption?
GCash, Maya, PDAX, and Coins.ph are cited as key distribution channels. -
How many asset holders could emerge as tokenization scales?
The forecast shows growth from roughly 1 million to over 10 million near term, with long-term potential toward 100 million. -
What factors could expand the tokenization market beyond $60 billion?
Fractional access, automated compliance, and public-private partnerships are highlighted as major growth drivers.
