According to Foresight News, the Philippines Department of Finance has issued its first-ever tokenized bonds worth PHP 15 billion ($270 million). These bonds, which are set to mature in November 2024, target institutional investors and carry a coupon rate of 6.5% per annum. The total bids amounted to PHP 31.426 billion, more than three times the initial offer of PHP 10 billion. The bonds are issued in the form of digital tokens and will be stored in a distributed ledger technology registry.