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The Philippines has become a global epicenter of blockchain and digital asset adoption, and during the recent Philippine Fintech Festival, leaders from Web3, fintech, and the Bitcoin industry delved into how the country can cement its place as a global blockchain hub.
The Philippines is a global leader in blockchain gaming and was ranked second by Chainalysis for digital assets adoption this year. At its peak, Axie Infinity revealed that about 40% of its users were from the Southeast Asian country, and while Axie may have fallen out of favor following the March hack, the blockchain gamers have continued to grow.
“[The Philippines] is probably far ahead of anywhere else in the world. I’ve been to other countries where the regulation stifles the growth, especially when it intersects with banking and money,” Mark Veron, the vice chairman of the Fintech Philippines Association, told CoinGeek’s Claire Celdran.
The Bangko Sentral ng…