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Locally-licensed crypto platform Philippine Digital Asset Exchange (PDAX) partnered with Toku to allow remote employees and contractors in the country to receive salaries in stablecoins.
PDAX x Toku
In a media release, the firms noted that the collaboration integrates Toku’s token-based global payroll system with PDAX’s compliant cashout infrastructure.
“Crypto companies already hold stablecoins on their balance sheets… Now they can use those same assets to pay contributors in the Philippines. Our partnership with PDAX makes stablecoin payroll local and seamless.”
Ken O’Friel, CEO, Toku
Nichel Gaba, CEO of PDAX, said the exchange looks forward to collaborating with Toku to introduce stablecoin-based payroll options in the Philippines.
“This helps open up better, faster financial access for Filipino professionals working with global companies.”
Nichel Gaba, CEO, PDAX
The media release pointed out that the collaboration aligns with a broader trend of stablecoins becoming key treasury tools for global crypto companies, as regulators in markets like the Philippines work toward more defined digital asset frameworks.
Apart from Toku, PDAX also recently partnered with Codex, an Ethereum L2 specializing in stablecoin-based payments, to improve remittance transfers into the Philippines through stablecoin rails.
Stablecoins are cryptocurrencies pegged to assets like the Philippine Peso or US dollar, designed to maintain a stable value while enabling fast, programmable transactions. Their reliability depends on reserve quality, issuer transparency, and the mechanism maintaining the peg.
How it Works
The system lets companies pay contributors in stablecoins while sidestepping international transfer delays and fees.Â
Payments can be converted to pesos and sent directly to local bank accounts or mobile wallets. Employers send stablecoins through the platform, and PDAX manages the peso conversion and distributes payouts via Instapay or Pesonet to banks and major e-wallets.
The setup enables real-time on-chain settlement, flexible conversion between PHP and multiple stablecoins, and broad payout coverage across the Philippines.Â
Toku delivers global token and stablecoin payroll services, including support for payroll, taxes, and benefits. PDAX provides a wide range of digital asset offerings, from trading and cross-border payments to crypto-as-a-service and tokenized securities.
Recent PDAX News
Last month, PDAX added Hyperliquid’s HYPE token and USDT on the Kaia network to its platform, giving Filipino users access to two expanding blockchain ecosystems. The exchange said the new listings offer faster, more affordable trading and stablecoin transactions while strengthening support for high-performance decentralized networks.
In June, PDAX worked with Triple-A to let GrabPay users fund their wallets with crypto, giving verified users the ability to convert digital assets into pesos through the exchange.
Earlier this year, PDAX also partnered with Coinbase Wallet and Base to advance on-chain adoption in the country, offering users a self-custody wallet, access to DeFi apps, and quicker, lower-cost transactions.
This article is published on BitPinas: Toku, PDAX Partner to Enable Stablecoin Payroll in the Philippines
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