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Philippines to Sell Tokenized Treasury Bond Next Week
The Bureau of the Treasury has set a minimum target of 10 billion pesos.
Updated Nov 16, 2023, 9:39 a.m. Published Nov 16, 2023, 9:39 a.m.
The Philippines government said it plans to raise 10 billion pesos ($180 million) through the sale of a tokenized treasury bond next week, in the latest move by a government to embrace blockchain technology to digitize its domestic debt market.
The planned sale follows an offering from Hong Kong, which issued an 800 million-Hong Kong dollar ($103 million) tokenized green bond in February. The central bank subsequently described in August how tokenization could enhance the efficiency, liquidity and transparency in bond markets.
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The Philippines Bureau of the Treasury intends to confirm the interest rate of the one-year bond on Nov. 20, with the issue and settlement date set for Nov. 22. It reserves the right to change the mechanics of the issue, it said in an announcement on Thursday.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
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- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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$110 billion in crypto left South Korea in 2025 owing to strict trading rules
While South Korean financial officials acknowledged the need for new rules, disagreements over stablecoins delayed a broader crypto framework.
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