From GCash upcoming IPO to Hiraya Network launch, here are some of the crypto news from the Philippines. (March 24 – 30, 2025).
SEC is optimistic about GCash’s upcoming IPO
The Securities and Exchange Commission (SEC) expressed optimism about GCash’s planned initial public offering (IPO) in 2025 but clarified that the company has yet to submit a formal request for exemption from the 20% public float requirement. SEC Commissioner McJill Bryant Fernandez noted that while GCash has reportedly reached out to the Philippine Stock Exchange (PSE), no official discussions have taken place with the SEC. He emphasized that any exemption request would require a formal application and that the commission would need to assess market conditions and the size of the offering before making a decision.
GCash officially announced its IPO plans in early 2024. Globe Telecom CEO Ernest Cu indicated that GCash may seek a reduction in the public float requirement to as low as 10% to facilitate the offering.
BCP General Members Meeting
In a recent X post, blockchain firm BayaniChain shared the Blockchain Council of the Philippines’ first general members meeting of the year, which centered on the growing role of blockchain in government operations. The event was noted for bringing together regulators, agencies, and industry leaders to discuss how blockchain technology is enhancing efficiency and transparency in public services. SEC Commissioner Rogelio Quevedo also attended and emphasized the need for “smart regulation” to support blockchain adoption.
Crypto’s Role in OFW Remittance Boycott Overstated
As discussions around a “Zero Remittance Week” gain momentum, experts highlight that cryptocurrency could make it harder to measure and organize the protest, though its impact may be overstated.
Columnist Manuel L. Quezon III noted the challenges of coordinating such movements, especially with alternative remittance methods like crypto complicating data tracking. Luis Buenaventura, head of crypto at GCash, clarified that crypto-powered remittances in the Philippines mostly function at the backend rather than at the consumer level.
EigenLayer AVS Dinner
The EigenLayer AVS Dinner brought together Ethereum builders and crypto enthusiasts in the Philippines to explore the future of autonomous verifiable services (AVS) and liquid restaking.
Attendees gained insights into how AVS extends Ethereum’s security layer, with ETH Philippines leading discussions on real-world applications and opportunities for developers and restakers. A special message from Nader Dabit of EigenLayer highlighted the growing role of programmable trust in Ethereum’s evolving ecosystem. The event, held in Bonifacio Global City on March 29, 2025, fostered collaboration and knowledge-sharing among the local Ethereum community.
YGG Warns Members About Impersonators
Yield Guild Games (YGG) is warning its community about a rise in fake social media accounts impersonating its official Facebook page. These scammers attempt to deceive users with unsolicited links, fake giveaways, and urgent financial offers, often through direct messages or comments.
To stay safe, YGG advises users to verify account details, avoid clicking suspicious links, and never share personal information. If a fake account is spotted, members should report it to community moderators and keep a record of the interaction. Always reach out to YGG through official channels for verification.
ChainQuest in Arellano University – Andres Bonifacio Campus
Local community Web3 Bulacan held its ChainQuest event on March 27 at Arellano University – Andres Bonifacio Campus in Pasig City.
ChainQuest is an event that brings students, faculty, and tech enthusiasts together to explore the future of web3. Through deep discussions on blockchain, web3 careers, social impact, and high-demand developer skills, attendees gained valuable insights and opportunities for growth in the evolving digital landscape.
Hiraya Network Launch
The BLOKC recently launched the Hiraya Network to support Filipino innovators in blockchain and web3.
This initiative will connect startups, universities, and researchers with Aptos’ global network, providing access to funding, training, and technical development. Through this collaboration, developers will gain opportunities to enhance their skills and contribute to advancing blockchain applications in government services and transparency.
Hiraya Network Lead Statement
At the launch, Eli Becislao, co-founder of The BLOKC stated that the network aims to bridge the gap between local blockchain talent and global opportunities. He emphasized that while the country has strong tech talent, many developers lack access to resources and funding.
For Becislao, the initiative’s key success metric is economic impact rather than just the number of developers trained. He stressed that even if only 100 developers secure high-paying roles within Aptos or a handful of startups raise significant funding, it would create a substantial ripple effect in job creation and economic growth.
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This article is published on BitPinas: Crypto PH News Recap: Mar. 24 – 30, 2025
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