Space Network Secures $50 Million Satellite Service Deal in Philippines

Space Network has signed a $50 million binding pre-order agreement with HQ Company International Holdings to deploy its Freeport low-Earth orbit (LEO) satellite network in the Philippines. Under the deal, Space Network provides infrastructure and software, while HQ Company manages local operations and regulatory compliance. Space Network, which is also developing the Spacecoin DePIN project using the native token $SPACE for data relay payments, reports its total commercial pre-order value has reached $150 million, including a previous $100 million agreement in Vietnam.