Philippines Announces Tokenized Treasury Bonds
The Philippines is now following the Asian trend of tokenizing real-world assets
The Philippine Treasury plans to release tokenized treasury bonds worth 10 billion pesos, equivalent to $179 million
These bonds will be accessible to banks and other institutional buyers and will have a validity period of one year
The issuance will occur on an Ethereum-based platform developed by the Union Bank of the Philippines, leveraging smart contracts to automate the tokenized bonds
This move aligns with the increasing trend of bond tokenization in Asia, with countries like Singapore, the UAE, and Hong Kong participating.