Spacecoin Parent Company Signs $50 Million Satellite Services Deal in Philippines

Spacecoin parent company Space Network signs a $50 million satellite connectivity pre-order deal with HQ Company in the Philippines.

Space Network, the space infrastructure company behind Spacecoin, has signed a $50 million binding pre-order agreement with HQ Company to provide satellite connectivity services in the Philippines, according to information shared by Wu Blockchain.

Under the agreement, Space Network will supply Freeport network access along with the required hardware, software and engineering support. HQ Company will be responsible for local sales, customer acquisition, spectrum authorizations and operational activities in the Philippines.

The agreement represents a commercial commitment for Space Network as the company works to expand its low-Earth orbit satellite network and prepare for broader commercial services.

Space Network Plans 230-Satellite Constellation

Space Network currently has four LEO satellites in orbit and plans to expand its constellation to approximately 230 satellites by 2029.

The company plans to begin commercial services as its satellite network grows. The planned expansion would substantially increase the scale of its constellation compared with its current four satellites.

The Philippines agreement is structured around Freeport network services, with responsibilities divided between Space Network and HQ Company. Space Network will provide the underlying network infrastructure and technical support, while HQ Company will manage markets-facing activities and local operating requirements.

The deal does not specify a commercial launch date for services in the Philippines beyond Space Network's broader plan to begin commercial operations as its constellation expands.

Vietnam Deal Brings Pre-Orders to $150 Million

The Philippines agreement follows a separate $100 million deal signed by Space Network with Vietnam's DETI Technology in June 2026.

Combined, the two agreements bring Space Network's reported commercial pre-orders to $150 million within four months.

The agreements provide commitments across two Southeast Asian markets as Space Network develops its satellite infrastructure and works toward the planned expansion of its LEO constellation.

For the Philippines deal, HQ Company will take responsibility for obtaining spectrum authorizations and managing local operations, while Space Network remains responsible for network access, equipment, software and engineering support.

Commercial Expansion Remains Tied to Constellation Growth

Space Network's commercial plans are linked to its stated objective of expanding from four satellites currently in orbit to approximately 230 by 2029.

The $50 million Philippines pre-order adds to the company's previously announced commercial commitments, but the agreement does not by itself establish a specific date for full commercial deployment in the country.

The next major milestone identified in the information shared by Wu Blockchain is the planned expansion of Space Network's satellite constellation financial and the start of commercial services.

Writer: Victoria Hale
Technology & Blockchain Writer

Victoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.

She prioritises clarity and accuracy when explaining technical developments to a general audience.