Cryptocurrency Adoption

In the Philippines, cryptocurrency is no longer a fringe concept—it is fast becoming a fixture in the nation's evolving financial ecosystem. Finance Secretary Ralph Recto recently reported that Filipinos have funneled nearly ₱6 trillion into cryptocurrencies, marking a profound shift in how younger, tech-savvy citizens engage with money. At the heart of this transformation are digital platforms like GCash, which have expanded from mobile wallets to gateways for savings, microloans, and even government assistance. Tasks that once required bank visits and long processing times are now completed with a few taps on a smartphone.

But this is more than a digital convenience—it’s a socio-economic turning point. In a country where over 76% of adults remain underbanked, crypto technologies are unlocking new forms of financial access and empowerment. As blockchain tools integrate with local fintech ecosystems, they are not just enhancing liquidity but also redefining inclusion. With growing public interest, supportive infrastructure, and a mobile-first population, cryptocurrency adoption in the Philippines may be key to reshaping how marginalized communities interact with wealth, opportunity, and governance.

Who Can Use These Topics

This research is ideal for students and professionals pursuing the following courses or strands:

College Programs:

• BS in Financial Technology

• BS in Business Administration major in Financial Management

• BS in Accountancy

• BS in Information Systems

• BS in Economics

• BA in Political Science (with interest in regulation and digital law)

• BS in Computer Science (focus on blockchain development)

Senior High School Strands:

• ABM (Accountancy, Business, and Management)

• STEM (Science, Technology, Engineering, and Mathematics)

• HUMSS (Humanities and Social Sciences) (especially with interests in policy, law, and behavioral economics)

• General Academic Strand (GAS)

Why This Topic Needs Research

The surge in cryptocurrency adoption in the Philippines presents both an opportunity and a challenge for researchers aiming to understand its full impact. However, gaps remain in how this trend is studied and contextualized:

• Limited geographic and demographic sampling: Most previous studies focused on narrow or region-specific populations, which hindered broader applicability. For instance, while Hidegföldi et al. (2025) developed a robust adoption model, they noted the need for larger and more demographically varied samples to enhance generalizability.

• Overlooked socio-cultural variables: Research has often prioritized economic or technological factors, missing out on how variables like education, income inequality, and community norms influence adoption. Guo et al. (2025) emphasized the necessity of including these dimensions for a fuller societal understanding.

• Lack of cross-country and generational analysis: Most models have not compared crypto adoption behavior across age groups or nations. Kajol et al. (2025) recommended exploring generational differences and cultural contexts to understand what drives adoption patterns globally.

• Weak integration of policy and regulatory readiness: While regulation plays a significant role, few studies have assessed how governments—especially in Southeast Asia—respond to crypto's rise. Hamedani et al. (2025) highlighted the importance of evaluating institutional strategies and regulatory preparedness in emerging economies.

• Underexplored psychological and behavioral influences: Behavioral biases, risk perception, and investor knowledge have only recently gained attention. Angeles (2025) called for deeper exploration into how cognitive factors, shaped by local contexts, affect investment decisions.

• Insufficient behavioral modeling in local contexts: In the Philippines, models often focus on awareness and attitude but leave out constructs like perceived behavioral control. Agudos et al. (2025) found that adding these variables would improve predictive accuracy within behavioral frameworks.

• Limited inclusion of risk-reward analysis: Doblas et al. (2024) pointed out that most models fail to account for the unique risk tolerance and reward expectations across different Filipino socio-economic groups, leaving a gap in behavioral forecasting.

Feasibility & Challenges by Target Group

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References

Agudos, J. S., Bagalangit, H. M., Gabaldon, A. M., Torda, G. T., Villa, J. A. R., & Fadriga, J. T. CRYPTOCURRENCY: AWARENESS AND ATTITUDE IN RELATION TO ADOPTION AMONG ILONGGOS AMIDST PANDEMICS.

Angeles, I. T. (2025). Behavioral Biases, Risk Tolerance, Knowledge, and Investment on Cryptocurrency: A Moderated Mediation Analysis. Review of Integrative Business and Economics Research, 14(2), 687-704.

Doblas, M. P., Becaro, J. M. G., P. Sankar, J., & Natarajan, V. K. (2024). Testing Integrative Models of the Change Behavior in the Intention to Adopt Cryptocurrency. SAGE Open, 14(2), 21582440241253542.

Guo, Y., Yousef, E., & Naseer, M. M. (2025). Examining the Drivers and Economic and Social Impacts of Cryptocurrency Adoption. FinTech, 4(1), 5.

Hamedani, S. S., Francis, P. B., & Aslam, S. (2025). Regulation as a Game-Changer: Factors Driving Cryptocurrency Adoption among Millennials. International Review of Management and Marketing, 15(3), 415-425.

Hidegföldi, M., Csizmazia, G. L., & Karpavičė, J. (2025). Understanding the Drivers of Cryptocurrency Acceptance: An Empirical Study of Individual Adoption. Procedia Computer Science, 256, 547-556.

Kajol, K., Devarakonda, S., Singh, R., & Baker, H. K. (2025). Drivers influencing the adoption of cryptocurrency: a social network analysis approach. Financial Innovation, 11(1), 1-25.

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