Bitget’s PayFi Initiative Brings Crypto Transactions to Local Businesses

Siargao, Philippines – The future of payments is now in one of the Philippines' most popular tourist spots. Bitget Wallet, a top non-custodial wallet solution provider, has achieved launching crypto payments in Siargao under its PayFi Initiative, enabling local businesses to accept digital assets in a hassle-free manner.

During March 12-16, 2025, Siargao hosted the PayFi Event to showcase how blockchain can bridge the gap between traditional finance and digital transactions. The event congregated local business people, government officials, and international blockchain influencers to present the convenience and advantages of embracing cryptocurrency in Siargao's tourism-based economy.

Enabling Local Enterprises through Crypto Solutions

The PayFi Event is not simply a tech showcase—it's a revolution to recast financial access for both business and consumer alike. By means of live presentations, panel talks, and community forum (Kamustahan sa Siargao), Bitget promoted the ability of blockchain-driven payments in catalyzing economic growth among small enterprises and independent entrepreneurs.

“The PayFi Event in Siargao represents a significant step towards integrating blockchain technology into daily life. By empowering local communities with crypto-based financial solutions, we aim to create a more inclusive and efficient financial ecosystem.” — Gracy Chen, CEO of Bitget

The Salt & Sun Market, one of the event's major attractions, enabled small business operators and vendors to get a first-hand feel of crypto payment. Attendees were engaged in cashless transactions using Bitget Wallet, where they could buy products and services while gaining incentives and special rewards for wallet registration. This real-life application demonstrated how digital assets could facilitate smoother operations, lower transaction costs, and even expand customer base.

“I absolutely love the initiative of introducing new payment methods in high-tourist areas. It plays a significant role in enhancing the tourism experience in the Philippines, giving visitors the confidence to use and hold the same currency while spending here. Kudos to Bitget and Bitget Wallet for taking such proactive action!” — Bernard Mendoza (Papa B), Content Creator KOL

Beyond markets and businesses, the event also hosted Siesta sa Siargao, a networking social that showcased how crypto payments can be seamlessly integrated into food and beverage transactions, further demonstrating the usability of digital wallets in everyday settings.

Bitget Builders Night: Strengthening the Web3 Community

A crucial part of the event was Bitget Builders Night, an exclusive gathering at Lamari Boutique Resort where Web3 leaders, entrepreneurs, and content creators came together to discuss the future of crypto adoption in the Philippines. The evening served as a valuable networking opportunity for KOLs, project founders, and blockchain advocates, reinforcing PayFi’s role in driving real-world digital transactions.

“Bitget Wallet VIPs and KOLs gathered with the Siargao locals to discuss the future of PayFi and its role in tourism and small businesses in Siargao. With Bitget Wallet, tourists from all over the world can now transact cryptocurrency in Siargao using its newly developed Pay-Fi. Which is good for the Philippines because Siargao is a global tourist hotspot. I’m personally excited to see how this adoption plays out!” adds Reniel Bautista (also known as Ramen), a Content Creator KOL.

A Future of Financial Inclusion

Bitget’s PayFi initiative in Siargao is just the beginning of a larger mission to integrate crypto payments across multiple islands. By creating real-world use cases, the event successfully laid the foundation for future adoption, proving that blockchain technology can enhance financial accessibility and economic opportunities in emerging digital economies.

As PayFi expands, more local businesses are expected to join the movement, embracing crypto transactions as a seamless, secure, and cost-efficient alternative to traditional payments. Siargao is now a trailblazer in crypto adoption, showing the rest of the Philippines what’s possible when innovation meets practical application.

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