Key Takeaways
- PDAX, a Philippine-regulated cryptocurrency exchange, has partnered with Web3 payroll provider Toku.
- This collaboration enables remote workers in the Philippines to receive their salaries in stablecoins.
- The integration bypasses traditional wire fees and delays, allowing for direct payment settlement to PDAX wallets or external addresses.
- Employees can cash out their stablecoin earnings to various Philippine banks and e-wallets, including GCash and GrabPay.
- The Philippines is showing increasing adoption of cryptocurrency, with ongoing government and banking initiatives in the space.
PDAX, a cryptocurrency exchange operating under Philippine regulations, has announced a strategic partnership with Toku, a provider of Web3 payroll solutions. This collaboration is set to revolutionize how remote workers in the Philippines are compensated, allowing them to receive wages directly in stablecoins.
Streamlined Stablecoin Payroll Integration
The newly established integration connects Toku’s token-based payroll system with PDAX’s established cash-out infrastructure. This innovative approach enables companies to disburse stablecoin wages seamlessly through their existing payroll processes. For the employees, this means an easier and more efficient way to access their earnings, converting salary income into Philippine Pesos (PHP) without incurring the usual wire transfer fees or experiencing lengthy delays.
Toku facilitates these payments by routing them directly to either PDAX wallets or specified external cryptocurrency addresses. This ensures real-time settlement on the blockchain. Once received, workers have the flexibility to cash out their funds to a wide array of Philippine banking institutions and popular e-wallets, such as GCash and GrabPay. Employers benefit from this arrangement as well, with the option to fund payroll using either PHP or popular stablecoins like USD Coin (USDC), USDG, or RLUSD.
Toku operates as a global payroll platform, empowering businesses to pay their employees and contractors using tokens or stablecoins, all while leveraging their current payroll systems. The company’s services are reportedly utilized in over 100 countries worldwide.
PDAX, on the other hand, is a prominent cryptocurrency exchange based in the Philippines, offering a suite of services including trading, cash-out facilities, and tokenized asset products tailored for both individual users and businesses within the local market.
The Philippines’ Growing Interest in Cryptocurrency
Over the past couple of years, the Philippines has emerged as a significant hub for cryptocurrency adoption in Asia. This trend is further evidenced by various initiatives launched by government agencies and major financial institutions exploring blockchain technology and stablecoin solutions.
In 2024, a notable development saw Tether collaborate with the Web3 platform Uquid, enabling individuals in the Philippines to settle their Social Security System (SSS) contributions using USDt on The Open Network. The SSS is the national social security program responsible for providing benefits to workers across both formal and informal sectors of the economy.
Looking ahead to January 2025, several Philippine banks have embarked on a collaborative effort to develop the PHPX stablecoin. This project, built on the Hedera network, aims to streamline real-time remittance services by leveraging distributed ledger technology (DLT).
Further underscoring the country’s embrace of blockchain, the Philippine government announced in July 2025 its intention to begin the notarization of official documents on the Polygon blockchain. Bayanichain, the company spearheading this initiative, indicated that the system would be employed for tracking government budget records.
In August of the same year, a bill was introduced in the Philippine Congress proposing the creation of a strategic reserve of 10,000 Bitcoin. The proposed Strategic Bitcoin Reserve Act would mandate the Bangko Sentral ng Pilipinas (BSP), the country’s central bank, to acquire and hold this amount of Bitcoin in trust for a minimum period of 20 years.
Expert Summary
The partnership between PDAX and Toku represents a significant step towards integrating stablecoins into mainstream payroll for remote workers in the Philippines. This initiative simplifies cross-border payments, reduces associated costs, and aligns with the country’s broader adoption of digital assets and blockchain technology.
