Philippines Could Unlock $60B Through Asset Tokenization by 2030: Report

The Philippines has the potential to develop a $60 billion market for tokenized assets by the year 2030, according to a joint report from the Philippine Digital Asset Exchange (PDAX), Saison Capital, and Onigiri Capital.

Key Takeaways:

The Philippines might create a tokenized asset market worth $60 billion by 2030, primarily driven by equities and government bonds.
A greater proportion of Filipinos (14%) own cryptocurrencies compared to traditional investments, where fewer than 5% own stocks or mutual funds.
Digital wallets such as GCash and PDAX are facilitating access to tokenized bonds with minimum investments starting as low as P500.

The report emphasizes that the Philippines' widespread use of digital wallets and cryptocurrencies creates a unique opportunity for “tokenized-first” investments in stocks, bonds, and funds.

Philippines Could Unlock $60B Through Asset Tokenization by 2030: Report

Crypto Ownership Surpasses Stock Investment in the Philippines

Despite being one of the most connected countries in Southeast Asia, traditional investment participation in the Philippines is still limited.

The report indicates a significant disparity: about 14% of Filipinos hold cryptocurrencies, whereas fewer than 5% invest in stocks, bonds, or mutual funds. This highlights a gap between access to digital tools and involvement in the wider financial system.

Nichel Gaba, the founder and CEO of PDAX, explains, “The Philippines has a unique advantage: blockchain wallets are already mainstream. We’re not starting from scratch. The infrastructure needed to provide tokenized assets to millions of Filipinos is readily available in their pockets. Our focus now is to link this infrastructure to real, regulated financial products.”

Project Bayani anticipates that equities could dominate the tokenized market, accounting for $26 billion, followed by government bonds at $24 billion, mutual funds at $6 billion, and other assets at $4 billion. Initial projects demonstrate how lowering barriers can enhance accessibility.

Tokenized government bonds, available through PDAX and the GCash payment application, reduced the minimum investment amount to just P500. This change has made the market accessible to smaller savers who were previously unable to invest due to higher entry costs.

Sharon Almanza, the Treasurer of the Philippines, noted the significance of the collaboration between the Bureau of the Treasury, PDAX, and GCash, stating, “This partnership placed government bonds directly at the fingertips of millions of Filipinos. It signifies a major advance in democratizing access to public financial instruments, thereby fostering financial inclusion.”

According to the report, large consumer applications are already serving as effective distribution channels. Wallets like GCash, PDAX, Maya, and Coins.ph enable users to manage digital assets without requiring companies or regulators to overhaul existing infrastructures.

Tokenization of Real-World Assets Could Tap into $400T Traditional Finance Market

A recent study conducted by Web3 digital property firm Animoca Brands revealed that the tokenization of real-world assets (RWAs) could unlock a massive $400 trillion market in traditional finance.

Animoca researchers Andrew Ho and Ming Ruan highlighted that the global market encompassing private credit, treasury debt, commodities, stocks, alternative funds, and bonds offers tremendous potential for growth.

“The estimated $400 trillion addressable TradFi market emphasizes the growth potential for RWA tokenization,” they stated.

According to the 2025 Skynet RWA Security Report, the tokenized RWA market could expand to $16 trillion by 2030. Additionally, tokenized U.S. Treasuries are expected to reach $4.2 billion this year, driven primarily by activity in short-term government bonds.