Treasury's third retail dollar bond tranche offered on PDAX app from $200

Retail investors will be able to buy the Bureau of the Treasury's (BTr) Retail Dollar Bonds Tranche 3 (RDB 3) through the Philippine Digital Asset Exchange (PDAX) app, with a minimum investment of $200, Mindanao Times reported.

The US dollar-denominated, government-backed bonds will be offered on the platform during the primary offering period from November 19 to 24, 2026. PDAX said it will charge no fees on the primary offering. The government will cover the withholding tax on interest, so investors receive their full scheduled interest payments.

Fully verified PDAX users can subscribe without going to a bank branch or opening a separate dollar savings account, the company said. Purchases may be funded with Philippine pesos, US dollars or USD-denominated stablecoins through a feature called PDAX USD*, which converts these into a dollar balance usable only on the platform. Investors funding through direct US dollar bank transfers face a higher minimum of $1,000.

PDAX founder and chief executive Nichel Gaba said Filipinos "should not need substantial wealth or a private banker to access dollar investments."

The previous tranche, RDB 2, was offered in 2023 with rates of up to 5.75 percent a year. The source did not state the rate for RDB 3. The BTr may close or adjust the offering earlier than scheduled, and all offer details and dates remain subject to change by the Treasury.

After issuance, the bonds can be traded on the platform's secondary market, although proceeds from selling before maturity will depend on market conditions.

PDAX is licensed by the Bangko Sentral ng Pilipinas as a virtual asset service provider and handles sovereign bond transactions through its subsidiary, PDAX Securities Inc., formerly bonds.ph Inc.