Finance Secretary Ralph G. Recto met with Coinbase co-founder and CEO Brian Armstrong at the World Economic Forum in Davos to explore the company’s potential entry into the Philippine market.
The news was shared by the Finance Department’s Facebook page.
Key Details:
- Recto emphasized the Philippines’ readiness to provide a robust regulatory framework to support crypto adoption while ensuring consumer protection and financial stability.
- Armstrong expressed strong interest in the Philippines, citing its rapidly growing digital economy, high crypto adoption rates, and vibrant blockchain gaming ecosystem.
In a previous interview series, Jesse Pollak of Coinbase discussed why the company views the Philippines as a strategic market for its crypto expansion:
- The Philippines’ strong international workforce and integration into global markets.
- The country’s dominance in blockchain gaming, exemplified by events like the YGG Play Summit.
- High remittance flows, making the Philippines a prime market for crypto-based payment and remittance solutions.
- (Read more: Interview Part 3: Why is Base Betting Big on the Philippines)
Ecosystem Development: Coinbase is already investing in the Philippines through partnerships and initiatives:
- Coinbase Wallet is now partnered with PDAX, a regulated local exchange, providing users with access to self-custody wallets, DeFi applications, and faster, low-cost transactions. (Read more: PDAX Partners with Coinbase Wallet and Base to Expand Onchain Access for Filipinos)
- Base Blockchain, Coinbase’s Layer 2 solution, is recruiting a Philippines country leader to drive ecosystem growth and on-chain innovation.
This article is published on BitPinas: Quick Take: Coinbase CEO Brian Armstrong Meets Philippine Finance Chief Recto in Davos to Discuss PH Expansion
Story tip by Mark Paul Adella
What else is happening in Crypto Philippines and beyond?
