A recent report by PDAX, Saison Capital, and Onigiri Capital projects that the Philippines could unlock a $60 billion asset tokenization market by 2030. The majority of this market is expected to come from tokenized stocks, valued at $26 billion, and government bonds, estimated at $24 billion. The report highlights the Philippines' "tokenization-first" advantage, noting that 14% of the population holds crypto assets, compared to less than 5% who own stocks or funds, indicating a higher crypto penetration than traditional investments.