Southeast Asia moves from pilots to infrastructure in blockchain shift
Blockchain leaders from Southeast Asia say the region is rapidly transitioning from pilot projects to real-world implementations, particularly in government and finance. During a panel discussion entitled “From Regulation to Realization: Blockchain Adoption Across ASEAN’s Public and Private Sectors” at the recently concluded Philippine Blockchain Week 2025 in Pasay City, Philippines, industry leaders share where the region is headed with blockchain technology.
“I read the Bitcoin white paper back in 2011 and was fascinated by the idea of a distributed ledger,” Paul Soliman, Chairman & CEO of BayaniChain, said. Soliman heads BayaniChain, a blockchain infrastructure firm based in Manila. Today, Soliman shared that BayaniChain runs a layer‑two blockchain network that supports government operations. “We’re already processing the national budget on‑chain,” he shared. “That means billions of dollars in government outlay now pass through our blockchain.”
Soliman shared that the project is a result of close cooperation with public agencies. “The Department of Budget and Management (DBM) trusted us with this because we’ve worked with them and the Blockchain Council of the Philippines,” he added. “The Council bridges the gap between industry and government.”
Wallet explosion on the horizon
In Indonesia, the push is equally strong. Raine Renaldi, head of the Economy and Digital Asset Committee at KADIN, said his country is now one of the highest-ranking globally in terms of crypto adoption. “We started working with the government in 2019 to write the first regulations,” he said.
“Officially, there are more than 22 million users, but our internal data puts the number over 40 million,” Renaldi noted. “One major app already has 170 million users and now holds a crypto exchange licence. It’s only a matter of time before all those users are given wallets.”
Renaldi said his committee has a clear mandate. “Better, bigger, safer – that’s the vision for Indonesia’s crypto ecosystem,” he shared.
Regulation driving innovation
Both Soliman and Renaldi credited regulatory frameworks for accelerating adoption. “In the Philippines, we are open to innovation, but with guardrails,” Soliman said. “The new SEC (Securities and Exchange Commission) sandbox lets companies test asset tokenisation and issue security tokens under [the agency’s] oversight.”
“Institutions only come in once there is a legal framework. That’s why regulation is our focus,” Renaldi added.
Super-apps and stablecoins leading adoption
Soliman pointed to the Philippines’ use of stablecoins in remittances as a model for real-world utility. “They’re calling stablecoins the super-app of payments because onboarding is easy, and people get it,” he said.
Looking ahead, Soliman believes artificial intelligence (AI) will power the next phase. “Five to ten years from now, AI agents will transact with each other on the blockchain. Tokens – even meme coins – could fuel that economy.”
Regional collaboration on the rise
Soliman said that regional cooperation is key. “We still learn from Singapore on payments and from Indonesia on retail. It’s a collaborative race.” Renaldi added, “We share best practices, so our ecosystems grow together.”
With public budgets now processed on-chain and tens of millions of dollars ready to be transferred to crypto wallets, both Soliman and Renaldi said the region’s blockchain future is no longer theoretical.
