Cryptocurrency giant Coinbase is setting its sights on the Philippines, a country emerging as a key player in blockchain adoption. The company has announced plans to hire a country manager to lead its expansion efforts, driven by the increasing use of blockchain technology among Filipinos.
“We are actively working to expand the Base team in the Philippines,” said Jesse Pollak, a Coinbase executive team member, during an interview with BusinessWorld. “We’re actually hiring right now a country leader for the Philippines. They’re going to be responsible for growing the on-chain economy and the Base economy in the Philippines. And then they’ll be building a team underneath them to assist with expansion.”
The Philippines has become one of the leading countries in cryptocurrency adoption, trailing only India and Vietnam, according to Pollak. Many Filipinos have embraced blockchain technology for remittances and payments, taking advantage of the lower transaction fees offered by Stablecoins.
In addition to payments, blockchain-based platforms like Yield Guild Games have provided opportunities for Filipinos to earn income through gaming, further fueling interest in digital assets.
Pollak also highlighted the potential for blockchain to intersect with artificial intelligence (AI), predicting that AI-powered agents could leverage crypto within financial platforms.
As the global blockchain ecosystem evolves, Pollak expects more businesses to adopt cryptocurrencies and blockchain-based digital assets. Benefits such as faster settlements, lower fees, and broader access to capital are driving this shift.
Regulatory developments in the Philippines are seen as a key factor supporting the growth of blockchain adoption in the country. Pollak praised the efforts of the Philippine Securities and Exchange Commission (SEC) in crafting a framework for digital assets.
“As we’ve seen around the world, governments and regulators are still trying to figure out how to engage with crypto,” Pollak noted. “There hasn’t always been a lot of clarity for builders about how they can use crypto to build businesses. And that’s been a thing that’s kind of slowed down innovation.”
The Philippine SEC is expected to release its regulatory framework for cryptocurrency assets and trading by the end of this year or early next year, a move that Coinbase views as a significant step forward.
“Our thesis is that Stablecoins, like a Philippine peso Stablecoin, are going to be one of the most powerful tools for making the Philippine economy powered on-chain,” Pollak explained. “We’re excited to see how the framework can enable innovation while ensuring consumer protection.”
By aligning with these regulatory efforts, Coinbase aims to bring the benefits of blockchain technology—speed, efficiency, and cost reduction—to the Filipino economy, reinforcing its commitment to advancing the global blockchain ecosystem.
