PayFi x Bitget Wallet Event Pioneers Web3 Payment Adoption in Siargao, Philippines

 

Bitget ,the leading cryptocurrency exchange and Web3 company, held the PayFi x Bitget Wallet event in Siargao, Philippines. The event is part of Bitget Wallet's PayFi initiative, aiming to connect the traditional financial system with blockchain technology. With overwhelming participation from merchants, entrepreneurs, and residents, the event showed Bitget's ongoing effort to promote financial innovation and drive cryptocurrency integration among local businesses and communities.

In February 2025, Bitget Wallet launched PayFi Vision and introduced the PayFi Flywheel, changing how we use cryptocurrency from being a passive asset to a dynamic financial tool for everyday transactions. The PayFi Flywheel converts crypto wallets from simple storage solutions into powerful engines of financial empowerment. With its earning, sending, and spending ecosystem, users can deposit crypto assets, such as stablecoins, into savings accounts offering flexible, real-time yields.

The PayFi x Bitget Wallet event achieved significant strides in merchant adoption, with five key businesses across hospitality, retail, and food & beverage sectors now accepting cryptocurrency through PayFi features in Bitget Wallet. This integration enables seamless transactions for both locals and international visitors, bypassing traditional barriers such as high transaction fees and limited banking infrastructure. 

Beyond merchant adoption, the event sparked vibrant engagement from local entrepreneurs, freelancers, and digital nomads, many of whom recognize cryptocurrency's potential to streamline cross-border transactions and mitigate currency exchange challenges. As a hotspot for global tourism, Siargao's embrace of crypto payments highlights the critical role of education in driving adoption. Bitget Wallet will continue to prioritize its PayFi focus in upcoming initiatives. 

Central to the event was the theme of financial inclusion, addressing the challenges faced by underserved communities with limited access to traditional banking. By offering accessible digital payments, the event demonstrates that crypto-powered financial solutions can drive real-world change.

Bitget Wallet is poised to expand its PayFi initiatives across the Philippines, targeting high-potential destinations such as Palawan, La Union, Dumaguete, and Boracay. Immediate plans include returning to Siargao to onboard additional merchants and deepen community engagement, followed by nationwide scaling to empower businesses and individuals with Web3 tools.

The success of PayFi x Bitget Wallet in Siargao has set the stage for further expansion, aligning with the rising demand for decentralized solutions and signaling a new era of financial accessibility and technological progress. The PayFi x Bitget journey starts in Siargao, but the vision stretches far beyond, promising a future where crypto payments empower every part of the Philippines.

Buhayin, Bitget Wallet Partner to Drive Financial Inclusion in Siargao

Buhayin, an advocacy agency for emerging island hubs, has partnered with Bitget Wallet and Bitget to drive financial and digital inclusion in Siargao. The partnership will officially kick off during Buhayin’s week-long island fiesta, Kapit-Isla Siargao, from March 12 to 16, 2025. The collaboration aims to introduce local businesses and residents to blockchain-based financial tools while also providing digital literacy programs on decentralized finance (DeFi) and its benefits. 

“Financial and digital inclusion is key to empowering island destinations like Siargao. By providing access to digital tools and education, we foster economic growth, resilience, and sustainability,” said Justin Wee, Founder of Buhayin.

At the heart of this partnership is the launch of PayFi, Bitget Wallet’s new payment system that bridges traditional finance with blockchain technology. PayFi allows local businesses to accept stablecoins and digital assets for instant transactions, granting more payment options for tourists, digital nomads, and crypto users at these local establishments. Through this partnership, Buhayin and Bitget Wallet are paving the way to make Siargao a model for a digitally empowered, sustainable island economy.

Kapit-Isla Week (March 12-16) is Buhayin’s flagship event—an adaptive island fiesta blending culture, sustainability, and community. Key highlights during the week include Run for the Islands, a run to champion environmental conservation in partnership with Rockwell Run Club and KidsforKids; Kamustahan sa Siargao, a community forum uniting island leaders, hosted by Lamari Resort; Salt and Sun Market, a marketplace spotlighting local businesses and artisans, hosted by Bar Ciao and powered by Mindanao Goes Solar; and Siesta sa Siargao, a barangay fiesta-inspired party to encourage foreigners to support local establishments, hosted by Tiki Hut and Saint Thomas.

A Strategic Partnership with Bitget Wallet

Buhayin envisions bringing Kapit-Isla to more island destinations across the Philippines, with Dumaguete set as the next stop this July. This expansion underscores one of its core priorities: fostering digital empowerment and bridging technological gaps in underserved areas. Bitget Wallet supports this vision by democratizing financial access for underserved communities through its digital payment solutions, providing an added choice for consumers who want to explore cryptocurrency as part of their financial habits.

“Blockchain technology can bridge economic gaps, and this partnership brings that vision closer to reality,” said Alvin Kan, COO of Bitget Wallet. “With Bitget Wallet, we enable safe and effective digital financial adoption for long-term benefits.”

Bitget earns recognition as Forbes’ most trusted crypto exchange; offers a secured platform for Filipinos

 Bitget, a cryptocurrency exchange platform and Web3 company, has secured a spot among the world’s most trusted crypto exchanges in the latest edition of Forbes’ digital asset platforms ranking. This marks Bitget’s first time on the prestigious list, debuting at eighth place among the top 25 most trusted crypto exchanges.

Forbes ranks the global cryptocurrency platforms based on factors such as regulation, transparency, and audit strength, among others. According to Forbes, Bitget stood as one of the most secure crypto exchanges in the world with transparent proof of reserves ensuring 100% of its assets and a $600M Protection Fund safeguarding users.

Bitget’s rise to the top-tier ranking is backed by unprecedented growth in its user base and trading activity. A recent transparency report revealed that Bitget’s users surged by 400% in 2024, surpassing 100 million users by December. Spot trading volume also experienced exponential growth, jumping from $160 billion in Q1 to $600 billion in Q4.

In the Philippines, Bitget has emerged as a trusted exchange for crypto investors looking for a secure and transparent trading platform. With the country’s growing interest in digital assets, Bitget provides Filipino users with seamless access to crypto trading through localized services tailored to their needs. Its support for PHP (Philippine Peso) transactions eliminates the hassle of currency conversions, making crypto investments more accessible than ever. With round-the-clock Tagalog customer support and extensive educational initiatives, Bitget is fast becoming the go-to platform for the country’s thriving crypto community.

In addition to its organic growth, strategic collaborations and platform upgrades helped Bitget solidify its position in the market. It joined the ranks of industry leaders such as Coinbase, Binance, and Robinhood.

“Our collaboration with Turkish national athletes and legendary football league LALIGA as well as getting multiple licenses and onboarding new chiefs in the company all contributed to Bitget’s success of positioning itself as the second largest crypto exchange ecosystem,” said Vugar Usi Zade, COO at Bitget.

Hon Ng, CLO at Bitget

Bitget’s momentum is also reflected in its growing global market share. A report from CCData showed that its market share rose to 4.25%, surpassing its previous all-time high recorded in April 2024. Comparing the change in market share of the combined spot and derivatives market, Bitget was among the biggest beneficiaries of 2024 after its market share went up by 4.05% to 10.5%.

Previously, Bitget Token (BGB) was ranked as one of the top 10 best-performing cryptocurrencies by Forbes for H1 2024. Since then, BGB has surpassed all expectations with a surge of over 1000% last year. By reducing BGB's supply, enhancing utility, and expanding real-world applications, Bitget plans to strengthen more functionalities and products in the Bitget ecosystem driving sustainable growth and long-term value for holders.

As the platform continues to scale, Bitget is focusing in its expansion markets via localized marketing, partnerships, and educational initiatives. The exchange offers simplified onboarding, fiat gateways, and localized customer support to ease access. Bitget also invests in blockchain education, strategic sponsorships, and incentive programs to retain users in high-growth regions.

With the joining of Hon NG, Chief Legal Officer at Bitget, the team is heavily invested in compliance. Recently, Bitget achieved UK approval, a BSP license in El Salvador, and even opened a new exchange in Vietnam to run it as per local requirements.