The Philippines government is about to embark on the next phase of its government bond tokenization path. Last year it tokenized bonds targeting institutional investors. That was followed by releasing 90 day Treasury Bills available to retail investors. Now the Bureau of the Treasury is planning to distribute longer term tokenized Treasury Bonds, or GBonds, in December targeting consumers.
Its primary distribution mechanisms will be via GCash and PDAX. GCash is the wallet app that has been used by 94 million people and was recently valued at $5 billion. Ant, the owner of Alipay owns around a third of GCash parent Mynt and MUFG owns 8%. PDAX is a cryptocurrency exchange with around four million users that has already been distributing the Treasury Bills, with a minimum investment of 500 pesos ($8.52).
“We envision a future where investing in government bonds is no longer a luxury but a new normal for Filipinos — with just a few swipes away and as easy as ordering their favorite food delivery,” said Ralph Recto, the Philippines Secretary of Finance. “This empowers our people to effortlessly secure their future, all from the comfort of their homes.”
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