According to Foresight News, the Philippines is set to launch its first-ever tokenized government bonds next week, offering at least PHP 10 billion ($179 million) of one-year tokenized bonds, with the right to change the issuance size. According to the issuance notice, the Philippine Department of Finance will issue tokenized bonds to institutional buyers, maturing in November 2024, with a minimum denomination of PHP 10 million and an increment of PHP 1 million. The final interest rate will be determined through the establishment of an order book and will be announced on November 20. The Development Bank of the Philippines and the Land Bank of the Philippines are the issuing managers.