Explore the blockchain landscape in the Asia-Pacific region: Linklogis' strategic partnership with XRPL, the Philippines' blockchain budget management initiatives, and recent investments in crypto and stablecoins within the region. Stay ahead of the latest trends and developments in crypto!
The commercial financing company Linklogis, backed by Tencent, has joined the growing ecosystem of the XRP Ledger network (XRPL). This partnership aims to efficiently tokenize real-world assets in the supply chain to accelerate cross-border settlements for global trade.
Since the integration, the volume of tokenized assets on XRPL has surged by 22.81%, reaching $305.8 million per month. This propels the network to 9th place globally in terms of tokenized asset value. XRPL’s recent collaborations extend to the real estate sector in Dubai and Brazilian agribusiness.
Founded in 2016, Linklogis became the first Chinese supply chain fintech to be publicly listed in 2021. The company processed $2.8 billion in cross-border assets last year. It plans to expand its stablecoin settlement capabilities and AI-powered trade financing.
Philippine Senator Bam Aquino advocates for the entire national budget of the country to be managed on blockchain. This proposal would make every peso traceable to citizens, building upon the existing blockchain platform of the Department of Budget Management.
Currently, the BayaniChain platform powers certain government financial document registration systems, using the Polygon network for greater transparency. If this initiative materializes, the Philippines would become the first country to have a budget management system entirely based on blockchain.
Meanwhile, Congressman Miguel Luis Villafuerte has proposed acquiring 10,000 bitcoins as a strategic national reserve, positioning bitcoin on par with gold and foreign exchange reserves.
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