As part of its initiative to bridge the gap between traditional finance and blockchain technology, global crypto exchange Bitget announced that it is currently hosting its “PayFi Event” in Siargao, a popular surfing island in the province of Surigao del Norte, Philippines, until March 16, 2025.
The event is rooted in Payment Finance (PayFi), Bitget Wallet’s blockchain payment system that enables businesses to accept stablecoins and digital assets for fast, low-cost transactions without intermediaries.
It has two functionalities:
- For cross-border payments, offering a secure and transparent system and providing a user-friendly interface for all experience levels.
- For decentralized finance integrations, allowing users to spend yield earnings and stake assets for passive income.
According to Bitget, the event marks a major step in Bitget Wallet’s PayFi plan for 2025, which is to introduce digital payment solutions to businesses and individuals in the tourism and freelance industries.
The event’s focus is to help local businesses adopt blockchain-powered payments to improve transaction efficiency for entrepreneurs, digital nomads, and tourists, the crypto exchange stressed.
Bitget also stated that the PayFi Event will serve as a case study for blockchain-powered financial inclusion by engaging local communities and business owners with the end goal of showing how digital assets can modernize local economies and lay the groundwork for broader crypto adoption in emerging markets.
“The PayFi Event in Siargao represents a crucial step toward making blockchain technology a part of everyday life. By equipping local communities with crypto-based financial solutions, we aim to build a more accessible and efficient financial ecosystem.”
Gracy Chen, Chief Executive Officer, Bitget
Event Highlight #1: Kamustahan sa Siargao
This is a community forum where government officials, small business owners, farmers, workers, NGOs, and youth discuss how blockchain payments can drive local economic growth.
“Kamustahan sa Siargao” is expected to feature a keynote on digital financial inclusion, live wallet demonstrations, and an incentive program for grassroots adoption.
Event Highlight #2: Salt & Sun Market
It is a street market that aims to give a hands-on experience for local vendors and artisans to accept crypto payments via Bitget Wallet.
There will be cashless transactions at food and drink stalls, with rewards for new wallet sign-ups and a raffle for participants.
Event Highlight #3: Siesta sa Siargao
This is a social gathering to introduce tourists, locals, and digital nomads to crypto transactions in daily life.
There will be cashless food and beverage stations to showcase blockchain-powered payments in real-world scenarios.
Worth Reading: The event was initially revealed during the announcement of Bitget Wallet’s collaboration with advocacy group Buhayin to enhance financial and digital inclusion in Siargao.
This article is published on BitPinas: Crypto Adoption in Tourism: Bitget’s PayFi Event to Drive Blockchain Payments in Siargao
What else is happening in Crypto Philippines and beyond?
