New Research Says Tokenized Bonds and Equities Could Reshape Financial Access by 2030
The Philippines is emerging as one of Asia’s most promising markets for asset tokenization, with a new industry report projecting a $60 billion opportunity by the end of the decade. The research, released as part of Project Bayani, outlines how tokenized versions of public equities, government bonds and mutual funds could transform participation in the country’s capital markets.
The white paper—developed by the Philippine Digital Asset Exchange (PDAX) alongside Saison Capital and Onigiri Capital—argues that tokenization may enable millions of Filipinos to bypass traditional financial barriers. With nearly half the population unbanked as recently as this year, analysts say the shift could mark an inclusion breakthrough.
“The Philippines has a unique advantage: blockchain wallets are already mainstream,” said PDAX founder and CEO Nichel Gaba. “We’re not starting from scratch. The infrastructure to deliver tokenized assets to millions already exists in their pockets.”
Tokenization Market Positioned for Rapid Growth
According to the study, tokenized public equities could account for $26 billion of the total opportunity, with government bonds close behind at $24 billion, and mutual funds contributing an estimated $6 billion.
“These estimates highlight a pathway for millions to access regulated investment products for the first time,” the report notes.
The surge in digital asset adoption supports these projections. Crypto ownership stands at 14%, significantly exceeding participation in stocks, bonds, or mutual funds. Meanwhile, major financial apps—including GCash, Maya, PDAX, and Coins.ph—already embed blockchain capabilities, positioning them to distribute tokenized instruments directly to users.
One of the most visible successes so far has been tokenized government bonds, offered through PDAX and GCash. Retail investors can now begin with as little as 500 pesos ($8.50). Nearly half of all government bond account holders now own tokenized versions, a strong signal of growing acceptance.
Treasurer of the Philippines Sharon P. Almanza said the government’s partnership with PDAX and GCash is reshaping access to national financial products.
“This initiative brought government bonds directly to the fingertips of millions,” she said. “It represents a major step in democratizing access and strengthening financial inclusion.”
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.