According to Foresight News, the Philippines Department of Finance has partnered with virtual asset company PDAX and fintech firm GCash to introduce government securities with a minimum investment of 500 pesos (approximately 9 USD). These securities will be maintained in the Philippines Distributed Ledger Technology (DLT) registry, a blockchain-based system owned by the Department of Finance. The DLT registry operates alongside the National Registry of Scripless Securities (NRoSS).
This initiative aims to make government securities more accessible to a broader segment of the population by lowering the entry barrier for investment. By leveraging blockchain technology, the Philippines seeks to enhance the transparency and efficiency of its financial systems. The collaboration with PDAX and GCash is expected to facilitate the distribution and management of these securities, providing a secure and efficient platform for investors.
The use of blockchain technology in this context underscores the Philippines' commitment to modernizing its financial infrastructure. The DLT registry is designed to ensure the integrity and security of transactions, offering a reliable alternative to traditional paper-based systems. This move is part of a broader strategy to integrate innovative technologies into the country's financial sector, promoting financial inclusion and economic growth.