IMPACT is an association formed by the country’s top crypto traders to bolster investing confidence and promote free education among interested Filipinos. 

Though the Philippines may have dropped from its second-place position in terms of crypto adoption, it’s undeniable that there are still a lot of Filipinos who are aiming toward understanding these digital assets. This comes as no surprise, given that there are nearly 7 million Filipinos who hold crypto.

According to a 2023 survey, about 88% of Filipino respondents stated that their main source of information when it comes to cryptocurrencies is social media, along with other websites. With that, local traders noticed the gap they could address.

As a result, some of the country’s top crypto traders formed the Innovative Movement of the Philippine Association of Crypto Traders (IMPACT). Through this initiative, experts can contribute to the country’s overall financial literacy by providing more understanding of the evolving crypto landscape.

What is IMPACT?

Established to equip Filipinos with a better understanding of cryptocurrencies, IMPACT provides reliable information about crypto trading. By spreading awareness about crypto basics, functions, as well as scams, the initiative aims to protect traders by securing the local crypto scene. 

Key people who founded this organization include: 

• Arlone “Paul” Abello, CEO of Global Miranda Miner Group (GMMG)
• Jiro Reyes, CEO of edutech firm Bitskwela
• Atty. Clarizel King, a corporate, technology, securities, health, and property law expert
• Steve “ICesteam” Jimenez, community manager of decentralized multi-chain order book exchange ZKEX.com
• Riki Dacanay, an entrepreneur and blockchain tech investor; and 
• Gilbert “TitoVlogs” Lazaro, a stock and crypto market analyst awarded as the best trading advisor in the Philippines for 2022 by Trader’s Fair.

“The Philippines Association of Crypto Traders is formed to equip individuals with the knowledge and understanding of cryptocurrencies and their vast potential. We strive to be the leading authority in the Philippines [by] providing reliable and unbiased information on crypto trading, use cases, and emerging trends,” Abello said.

What the Organization Does 

As of writing, the organization has already announced a partnership with the Junior Confederation of Finance Associations Philippines (JCFAP)—the national umbrella organization for associations of college students in finance or financial management.

Aside from that, it is also through the GMMG-initiated cause “CrypTalk: University Caravan,” that IMPACT members can visit educational institutions across the country to appeal to finance students. This will help them learn more about the fundamentals of crypto, blockchains, as well as Web3. 

“Generation Z can get easily hyped when it comes to investing. They have so much risk appetite that they lose focus on the potential risk of losing their money altogether,” Abello explained.

“We formed IMPACT to empower individuals to navigate the complexities of the digital economy confidently and equip the next generation of finance and technology professionals with essential knowledge about cryptocurrency and blockchain as transformative emerging technologies,” he added.

By having an organization formed by crypto traders, Filipinos, especially aspiring crypto holders, and traders, will have a reliable source they can turn to. Given how the foundation will spread awareness about these digital assets, the country may witness yet another growth in terms of crypto adoption rate, especially as Filipinos become known for embracing innovation.