Buhayin, an advocacy group for island hubs, partnered with Bitget Wallet and crypto platform Bitget to promote financial and digital inclusion in Siargao.
The collaboration will officially launch during Kapit-Isla Siargao, taking place from March 12-16, 2025, aiming to introduce blockchain-based financial tools and digital literacy programs to local businesses and residents.
“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.
Kapit-Isla Week
Kapit-Isla Week is Buhayin’s flagship event blending culture, sustainability, and community-driven initiatives.
Event features:
- Run for the Islands – An environmental run with Rockwell Run Club & KidsforKids.
- Kamustahan sa Siargao – A leadership forum at Lamari Resort.
- Salt and Sun Market – A marketplace for local businesses and artisans, hosted by Bar Ciao & Mindanao Goes Solar.
- Siesta sa Siargao – A fiesta-style party at Tiki Hut & Saint Thomas, encouraging support for local businesses.
Following Siargao, Buhayin plans to expand Kapit-Isla to Dumaguete in July, reinforcing its mission to bridge technological gaps in underserved areas. Bitget Wallet supports this vision by democratizing financial access, offering secure digital payment solutions for communities exploring cryptocurrency and blockchain technology.
What is PayFi?
A key initiative of the partnership is PayFi, Bitget Wallet’s new blockchain-based payment system that allows local businesses to accept stablecoins and digital assets for instant transactions.
PayFi integrates blockchain and decentralized finance (DeFi) to enable fast, low-cost, and transparent payments without intermediaries. This feature enhances payment options for tourists, digital nomads, and crypto users, fostering a digitally empowered, sustainable island economy.
“Blockchain technology can bridge economic gaps, and this partnership brings that vision closer to reality…With Bitget Wallet, we enable safe and effective digital financial adoption for long-term benefits,” Alvin Kan, COO of Bitget Wallet, stated.
Features of PayFi
- Real-Time Transactions: Fast processing with lower fees.
- DeFi for Daily Expenses: Use yield earnings for spending.
- Seamless Cross-Border Payments: No intermediaries, low-cost global transfers.
- High Security & Transparency: Blockchain-based security and public transaction records.
- User-Friendly Experience: Simple interface for both beginners and advanced users.
- Multi-Currency Support: Accepts various cryptocurrencies for payments.
- Passive Earnings via DeFi: Stake assets while keeping funds accessible.
Recent Bitget News
In February, Bitget was ranked 8th on Forbes’ list of the “World’s Most Trustworthy Crypto Exchanges”.
In the same month, Bitget Wallet enhanced its security with an upgraded authorization detection feature in version V8.29, allowing users to assess and revoke risky permissions while leveraging MPC technology, industry partnerships, and a $625 million Protection Fund for a safer web3 experience.
Recently, Bitget released its February 2025 Proof of Reserves report confirming a reserve ratio increase to 186%, with Bitcoin reserves at 322%, Ethereum at 173%, and stablecoins exceeding 100%, reinforcing its financial stability, transparency, and commitment to safeguarding user assets.
This article is published on BitPinas: Bitget Wallet and Buhayin Collaborate for Digital Inclusion in Siargao via PayFi Initiative
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