Only 28% of Filipinos are familiar with Web3 technologies despite 96% awareness of cryptocurrencies, according to the Philippine Blockchain Industry Report 2025, the country’s first benchmarking study of its blockchain ecosystem.
Released by the Blockchain Council of the Philippines in partnership with Gorriceta Africa Cauton & Saavedra, the Gobi-Core Philippine Fund, and Tether, the report highlights a widening gap between crypto awareness and deeper blockchain adoption in the country.
While the Philippines ranks eighth in the 2024 Global Crypto Adoption Index, 53% of Filipinos surveyed said they have never used blockchain-based applications.
Nevertheless, trust in the technology is rising, with 74% of respondents expressing confidence in blockchain’s security.
The study notes that the local ecosystem, once dominated by cryptocurrency trading and play-to-earn (P2E) gaming, is evolving into more diversified use cases including remittances, decentralized finance (DeFi), digital identity, and supply chain solutions.
High-profile startups like Yield Guild Games, which secured $4.6 million from Andreessen Horowitz, have brought global visibility to the space.
To accelerate growth and adoption, the report outlines five priority actions: broadening regulatory frameworks beyond crypto assets, establishing regulatory sandboxes, enhancing public-private education efforts, developing blockchain literacy and workforce skills, and encouraging government-led adoption of digital services.
“This report is both a diagnostic and a roadmap,” said Mark Gorriceta, managing partner at Gorriceta Africa Cauton & Saavedra. “It provides the legal and economic foundations to build a future-ready digital economy.”
The report launch was followed by the Block Awards 2025, an annual recognition event for blockchain leaders.
Former DICT Undersecretary Jocelle Batapa Sigue and SEC Chairman Emilio Aquino were named Blockchain Leaders of the Year for their contributions in the private and public sectors.
Other awardees included CoinsPH, Pitaka.io, Kookoo Crypto, the Davao DeFi Community, Gelo Wong, and Coach Miranda Miner. Winners received NFT trophies designed by Andre Baldovino, inspired by the work of National Artist Jose Joya.
“This is more than recognition, it’s a call to action,” said DITO CME President Donald Lim. “The Philippines must lead in shaping the region’s digital future.”