As Southeast Asia's fintech revolution gains momentum, the Philippines is actively adopting blockchain technology to secure a competitive edge in the digital economy. A significant milestone was reached with the launch of the country's first dedicated blockchain space, marking a crucial step in building its blockchain ecosystem.
Strategic Partnership Creates Regional Fintech Hub
The new blockchain space results from a collaboration between coworking provider Acceler8 and fintech firm SCI. Acceler8 operates under UnionSPACE, a regional coworking network with extensive Southeast Asian operations. This initiative forms part of UnionSPACE's broader blockchain strategy across the region, following the establishment of a similar space in Jakarta, Indonesia, with plans for further expansion. The project was jointly initiated by Indonesian Blockchain Association chairman Steven Suhadi and UnionSPACE CEO Albert Goh, demonstrating industry leaders' confidence in blockchain's regional potential.
Resource Integration Powers Fintech Growth
The blockchain space aims to consolidate Southeast Asia's fintech resources through networking events, workshops, and training programs that foster collaboration and innovation. Beyond providing physical infrastructure—including offices, virtual workspaces, and event venues—the facility will offer value-added services such as access to regional partners, investors, and venture capital firms to support business expansion and funding acquisition.
Makati City: Launchpad for Philippine Blockchain Innovation
Makati, the country's financial center, will serve as the primary location for this initiative. Peter Ing, head of the Philippine blockchain space, emphasized the project's role in industry leadership, offering comprehensive support ranging from basic training to advanced modules, along with funding access, networking opportunities, and legal-technical consultation. This localized support system is designed to lower market entry barriers and accelerate project implementation.
SCI: Pioneering Blockchain Applications in the Philippines
As a key partner, SCI plays a vital role in the country's blockchain development. Founded in 2014, the company initially focused on reducing cross-border remittance costs through its Rebit.ph service. Notably, SCI became the first blockchain company authorized by the Philippine Central Bank (Bangko Sentral ng Pilipinas), establishing a strong foundation for its expanding portfolio that now includes Buybitcoin.ph and Bitbit.cash across multiple blockchain applications.
Education and Advocacy: Unlocking Blockchain's Potential
SCI co-founder and CEO John Bailon stressed that blockchain's full potential requires continuous learning opportunities and public education initiatives. Beyond physical infrastructure and resource matching, the blockchain space will prioritize knowledge dissemination and talent development to support the ecosystem's sustainable growth.
Future Outlook: The Rise of Philippine Blockchain Ecosystem
The launch of the Philippines' first blockchain space represents a significant stride in the nation's digital transformation. By consolidating resources, providing support, and facilitating collaboration, this development may attract more fintech companies to establish operations in the country, driving broader blockchain adoption across industries. Achieving the vision of becoming Southeast Asia's fintech innovation hub will require coordinated efforts among government agencies, private enterprises, and industry associations to create favorable policies, enhance workforce development, and promote technological applications.