According to Odaily, the Philippine government is set to advance its tokenization of government bonds by issuing long-term tokenized treasury bonds, known as GBonds, to consumers in December. This initiative follows last year's focus on institutional investors, where the government initially tokenized bonds. Subsequently, 90-day treasury bills were made available to retail investors.
The primary distribution channels for these tokenized bonds will be through GCash and PDAX. GCash, a widely used wallet application with 94 million users, recently reached a valuation of $5 billion. Ant Financial, the owner of Alipay, holds approximately one-third of GCash's parent company, Mynt, while Mitsubishi UFJ Financial Group owns an 8% stake. PDAX, a cryptocurrency exchange with around 4 million users, has already commenced the issuance of treasury bonds, with a minimum investment requirement of 500 pesos (approximately $8.52).