Copy link
Increase text size
Decrease text size
Link copied

Philippines pioneers blockchain-based app to distribute government-issued bonds

The Philippines recently launched Bonds.PH, a blockchain-based app for distributing government-issued bonds.

Image by TheDigitalWay from Pixabay

Tue, 28 Jul 2020, 14:53 pm UTC

The Philippines is using technology to make investing in government-issued bonds a lot easier for everyone. The Philippine Bureau of the Treasury (BTr) just launched a blockchain-based app for the distribution of bonds.

In a partnership with the Philippine Digital Asset Exchange (PDAX) and Union Bank of the Philippines (UnionBank), the BTr launched the Bonds.PH app which makes it easier for Filipinos to invest in government bonds, according to Inquirer.net. “The launch of Bonds.PH paves the way for all Filipinos, particularly the unbanked, to easily and affordably invest in the BTr’s newest retail treasury bond, RTB-24,” National Treasurer Rosalia V. De Leon said.

The launch of the Bonds.PH app is also well-timed for Filipinos who want to invest in the country and help in its post-coronavirus recovery. “The mobile app presents a compelling opportunity for all to invest and help the Republic raise funds for economic recovery and COVID-19 response,” De Leon added.

One of the advantages of the Bonds.PH app is that it’s available 24/7. Opening an investment account is also very affordable as Filipinos can already start investing for as low as PHP5,000.00.

Using the app is also very easy and is compatible with both IOs and Android devices. Investors are also given a choice from a variety of payment options such as GCash, Paymaya, InstaPay, and over-the-counter payments at UnionBank.

The app is also hailed as the first of its kind in Asia. “This is the first retail treasury bond issuance to leverage on blockchain technology – in Asia, and likely the world,” UnionBank President and CEO Edwin R. Bautista said. “The Philippines is ready to lead the way into the future and tech up the nation with innovative, inclusive opportunities, powered by emerging technologies, for the benefit of all Filipinos.”

The app is also ultra-secure thanks to blockchain technology’s tamper-proof record-keeping capability. “DLT or blockchain technology is governance-by-design with its cryptography and programmable smart contracts,” said Nichel Gaba, Founder & CEO of PDAX. “This advantage allows the blockchain not only to preserve truth, but also to automate payments, enforce rules, and facilitate complex transactions via smart contracts at little to no cost.”

Bonds.PH was launched on July 19, 2020. The app’s launching was attended virtually by BSP Governor Benjamin Diokno and National Economic and Development Authority Secretary Karl Kendrick Chua, while Treasurer De Leon, Finance Secretary Carlos Dominguez III, and UnionBank Vice-Chairman Justo Ortiz attended the event onsite.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • ALEXANDRABROOKLYN
  • 2020.09.19 10:35:00
Hello everyone,

I want to testify about Luis Carlos who help me invest my bitcoin and made me who i am today, i never believe in bitcoin investment till i met Luis Carlos, I saw so many testimony about Luis Carlos helping people to invest their bitcoin, So i decide to contact him and invested $500 and after 7 days i receive my profit of $5,000 on my bitcoin wallet, Ever since i have been investing with them and i always receive my profit without any delay, so if you want to invest your bitcoin, Luis Carlos is the best trader you can invest with and getting your profit is guarantee, So if you want to invest just contact them and they will guide you on how start your investment . Email: [email protected] or WhatsApp : +16234044993
  • 0
  • ·
  • 0
  • Moses
  • 2020.07.31 00:14:29
I am a cryptocurrency trader and i make over 200% daily, If you are interested,i can teach you how to trade and also help you achieve your goal in life with crypto i can turn
$4500 into $35000 in less then four weeks,now that bitcoin has low prices...please note that cryptocurrency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door inbox me for more info....contact me on whatsapp :+12067425358
  • 0
  • ·
  • 0
More
  • Bitcoin (BTC) $17,213.70 (+3.02%)
  • Ethereum (ETH) $517.22 (+2.19%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $267.72 (+2.71%)
  • Chainlink (LINK) $12.60 (+3.89%)
  • Bitcoin (BTC) $17,213.70 (+3.02%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft