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PH could be Asia’s blockchain capital

PH could be Asia’s blockchain capital

The Philippines has a strong potential to become Asia’s blockchain capital, according to Dito CME Chief Financial Officer Donald Lim.

In a statement, Lim explained that the country has the highest Internet and NFT penetration rate of a digital population, with a population of 110 million and a median age of 25.

He added that the Philippines has one of the “fastest-growing blockchain and digital currency adoption rates in the world,” as its adoption goes beyond trading into Non-Fungible Tokens (NFTs), GameFi, and decentralized finance (DeFi), among others.

The Philippines ranked 10th in a survey conducted by Australian company Finder, which found that 16% of Filipinos own digital currencies. Meanwhile, it ranked first in the Southeast Asian region.

Integrating digital assets into some of the country’s most popular digital payment solutions has played a big part in its adoption as it made purchasing digital assets only a click away. 

Maya and GCash, which control 90% of the Filipino mobile wallet market, offer digital asset services.

Read more here.

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