High-Growth companies of Blockchain and Digital Assets in Philippines

The blockchain and digital assets industry in the Philippines has experienced significant growth in recent years, with the country emerging as a key hub for innovation and adoption in Southeast Asia. The combination of a tech-savvy population, supportive regulatory environment, and widespread mobile and internet usage has led to the rapid expansion of blockchain startups and companies working with digital assets. Below is an overview of high-growth companies in this space:

1. Coins.ph

• Overview: Coins.ph is one of the leading fintech and blockchain companies in the Philippines. Founded in 2014, it offers a mobile wallet that allows users to buy, sell, and store cryptocurrencies, as well as make payments for various services.

• Growth Factors: Coins.ph capitalized on the growing demand for digital payments and remittances in the Philippines, offering seamless integration of cryptocurrency transactions with traditional financial services. Its user-friendly mobile app has attracted millions of users.

• Key Offerings: Bitcoin, Ethereum, and other crypto trading; bill payments; mobile top-ups; remittances.

• Notable Milestones: The company was acquired by GoTo, a Southeast Asian technology company, in 2019 for $72 million, demonstrating the growing interest in the Philippine blockchain ecosystem.

2. SCI Ventures (Satoshi Citadel Industries)

• Overview: SCI Ventures is one of the first blockchain-focused companies in the Philippines, established in 2014. It operates a range of blockchain-based solutions, including remittances, payments, and cryptocurrency trading platforms.

• Growth Factors: SCI Ventures has a broad portfolio of blockchain solutions and plays a significant role in driving blockchain adoption in the country. It has partnered with various banks and businesses to enhance blockchain services for mainstream use.

• Key Offerings: SCI’s flagship platforms include BuyBitcoin.ph (crypto trading), Bitbit (digital wallet), and Rebit (crypto remittance service).

• Notable Milestones: SCI Ventures secured strategic partnerships with local and international businesses to expand its offerings, making it a leader in blockchain applications for remittances and financial services.

3. PDAX (Philippine Digital Asset Exchange)

• Overview: PDAX is a licensed cryptocurrency exchange regulated by the Bangko Sentral ng Pilipinas (BSP). It provides a secure and regulated platform for Filipinos to buy, sell, and trade cryptocurrencies.

• Growth Factors: PDAX benefits from a supportive regulatory environment and increasing public interest in digital assets. Its focus on compliance and security has helped it gain the trust of users.

• Key Offerings: PDAX offers trading services for a variety of cryptocurrencies, including Bitcoin, Ethereum, and Ripple, as well as tokenized traditional assets.

• Notable Milestones: In 2021, PDAX raised $12.5 million in a funding round led by prominent investors such as UBX and Kingsway Capital, highlighting investor confidence in the platform’s growth potential.

4. Yield Guild Games (YGG)

• Overview: YGG is a decentralized autonomous organization (DAO) that focuses on play-to-earn (P2E) gaming, particularly within blockchain-based games such as Axie Infinity. The company allows players to earn in-game assets that can be traded or sold for real-world value.

• Growth Factors: YGG tapped into the growing popularity of blockchain gaming and the "play-to-earn" model, which became especially appealing in the Philippines during the pandemic as a source of income.

• Key Offerings: YGG provides “scholarships” to players, allowing them to borrow in-game assets to participate in blockchain games and share in the rewards.

• Notable Milestones: YGG raised $12.5 million in 2021 in a Series A funding round led by venture capital firms such as Andreessen Horowitz. It has since grown into a major player in the global blockchain gaming space.

5. UnionBank (UBX)

• Overview: UBX, the fintech arm of UnionBank, is one of the pioneers of blockchain adoption in the Philippine banking sector. It has integrated blockchain technology into its banking services and launched platforms to facilitate financial inclusion.

• Growth Factors: UBX’s focus on using blockchain to improve access to financial services for unbanked and underbanked populations in the Philippines has driven its growth. Its projects aim to enhance payment systems and financial services infrastructure through blockchain.

• Key Offerings: UBX operates i2i, a blockchain-based platform that connects rural banks to the central financial system, as well as various blockchain-based payment and settlement services.

• Notable Milestones: UBX has gained recognition for its innovative use of blockchain to drive financial inclusion, winning awards for its digital banking initiatives.

6. BloomSolutions

• Overview: BloomSolutions is a fintech company that uses blockchain technology to streamline remittance and payment services, providing efficient cross-border money transfer solutions.

• Growth Factors: The company has grown by leveraging blockchain’s ability to reduce costs and improve the speed of remittances, a critical service in the Philippines where remittances represent a significant portion of the economy.

• Key Offerings: Bloom’s platform enables users to send money across borders using digital currencies or fiat currency, offering lower fees and faster transaction times than traditional remittance services.

• Notable Milestones: BloomSolutions has expanded its operations and continues to partner with financial institutions to enhance its remittance services.

7. PayMaya (Maya)

• Overview: PayMaya, now rebranded as Maya, is a leading fintech player in the Philippines, offering digital payment services with an increasing focus on cryptocurrency and digital assets.

• Growth Factors: PayMaya/Maya has built a massive user base through its mobile wallet services, which cater to both consumers and businesses. The company recently introduced cryptocurrency trading features on its platform, further expanding its reach in the blockchain space.

• Key Offerings: Maya provides an all-in-one app that includes crypto trading, mobile wallet services, bill payments, and digital banking.

• Notable Milestones: Maya was granted a virtual asset service provider (VASP) license by the BSP, allowing it to offer crypto-related services to its users, marking its formal entry into the blockchain space.

8. Akropolis Philippines

• Overview: Akropolis Philippines is a blockchain-based financial services company that provides decentralized finance (DeFi) solutions. It allows users to save, borrow, and invest in a decentralized environment, cutting out traditional financial intermediaries.

• Growth Factors: As DeFi grows globally, Akropolis is positioning itself to be a major player in the emerging decentralized economy in the Philippines, particularly appealing to tech-savvy users looking for innovative financial solutions.

• Key Offerings: DeFi protocols for lending, borrowing, and yield farming; blockchain-based savings and investment platforms.

• Notable Milestones: Akropolis continues to innovate by launching new DeFi products and services, helping to increase blockchain adoption among both retail and institutional investors in the Philippines.

9. Bnext

• Overview: Bnext is a digital bank that operates across several countries, including the Philippines. It leverages blockchain technology to enhance its digital banking and cryptocurrency trading offerings.

• Growth Factors: Bnext has grown quickly in the Philippines by targeting the country’s large unbanked population, offering easy access to digital financial services and low-cost cryptocurrency trading through its mobile platform.

• Key Offerings: Digital banking services, cryptocurrency trading, blockchain-based financial products.

• Notable Milestones: Bnext has successfully raised millions in venture capital funding and has expanded its user base rapidly in the Philippines, becoming a major player in the country’s growing fintech ecosystem.

10. Metacoins

• Overview: Metacoins is a blockchain startup based in the Philippines focused on enabling businesses to launch their own tokenized assets or decentralized applications (DApps) using blockchain technology.

• Growth Factors: With the rise of decentralized finance (DeFi) and tokenization, Metacoins has carved a niche in helping businesses tap into these emerging technologies for fundraising, customer engagement, and operational efficiency.

• Key Offerings: Token creation, smart contract development, decentralized application (DApp) development.

• Notable Milestones: Metacoins has successfully partnered with several businesses to launch tokenized products and services, showcasing the versatility of blockchain technology in different industries.

Conclusion

The blockchain and digital assets ecosystem in the Philippines is expanding rapidly, with companies across various sectors such as fintech, remittances, digital banking, and gaming driving innovation and adoption. 

High-growth firms like Coins.ph, PDAX, YGG, and SCI Ventures are leading the way, while emerging players like BloomSolutions and Akropolis Philippines are poised for continued expansion. The Philippines is set to be a major hub for blockchain technology and digital assets in Southeast Asia, supported by a favorable regulatory environment and increasing public interest in cryptocurrency and blockchain-based financial solutions.