The Philippine Digital Asset Exchange (PDAX), in collaboration with Saison Capital and Onigiri Capital, has launched Project Bayani, an ambitious initiative targeting the tokenization of as much as $60 billion in assets by the year 2030. This project is strategically designed to modernize the Philippines' capital markets and significantly expand access to financial products by leveraging blockchain technology and widely adopted digital wallets.
Massive Tokenization Opportunity Across Key Asset Classes
Project Bayani forecasts a broad transformation within the financial market through the tokenization of major financial instruments. Projections indicate that tokenized public equities could reach a value of $26 billion, government bonds are expected to grow to $24 billion, and mutual funds are anticipated to contribute an additional $6 billion. These categories collectively form the foundation of the project's long-term objectives.
Leveraging the Philippines' Strong Digital Wallet Ecosystem
The widespread adoption of mobile wallets in the Philippines, including popular platforms like GCash and Maya, alongside PDAX's own service, provides a robust foundation for the development of tokenized markets. These existing applications already incorporate blockchain capabilities, facilitating a "tokenized-first" approach that reduces barriers for both novice and experienced investors. Millions of Filipinos can now access tokenized assets directly through the digital tools they use daily.
Lowering Barriers and Promoting Financial Inclusion
A significant advantage of Project Bayani is its capacity to reduce investment minimums. Through the distribution capabilities of blockchain, tokenized government bonds available on PDAX and GCash now have an entry point of P500 (approximately $8.50), which is substantially lower than traditional investment requirements. This shift enables ordinary Filipinos to participate in markets that were historically accessible only to more affluent investors.
Crypto Adoption Strengthens the Foundation for Growth
The Philippines already boasts one of the highest cryptocurrency adoption rates globally, with 14% of its population owning digital assets. In comparison, fewer than 5% of Filipinos invest in conventional assets like stocks or bonds. This significant disparity highlights the country's readiness for blockchain-based financial products and positions tokenization as a logical progression in the evolution of its financial markets.
Collaborative Regulatory Framework
Project Bayani also emphasizes the strong collaboration between regulatory bodies and industry participants. The Bangko Sentral ng Pilipinas (BSP), the Securities and Exchange Commission (SEC), and private entities such as PDAX are working in tandem to ensure the safe scaling of tokenized offerings and to maintain robust consumer protections. This coordinated approach provides regulatory clarity while simultaneously fostering innovation within the financial sector.
Through Project Bayani, the Philippines is establishing itself as a regional leader in asset tokenization, fundamentally altering how millions access investments and reshaping the nation's financial landscape for the coming decade.