Binance, the biggest cryptocurrency exchange globally, has partnered with BlockShoals Technologies, a fintech company based in the Philippines. This collaboration allows Binance to potentially return to the Philippine market. Over two years ago, increased regulatory oversight forced Binance to limit its operations in the country. Now, through the Philippine Securities and Exchange Commission’s StratBox program—a regulatory sandbox—Binance hopes to resume services.
Binance recently announced a partnership with BlockShoals, which received preliminary approval from the Philippine SEC in November 2025 to join the StratBox program. This program, outlined in SEC Memorandum Circular No. 9, Series of 2024, lets fintech companies test new financial products in a real-world environment with SEC oversight before releasing them to the public. The testing phase is scheduled to last for two years and will be reviewed annually, as originally approved by the SEC.
What BlockShoals Brings To The Table
BlockShoals doesn’t directly serve customers. Instead, it provides the behind-the-scenes technology and infrastructure that allows companies dealing with cryptocurrencies to operate in the Philippines. As reported by the Manila Bulletin, this system handles legal requirements, ensures compliance, and manages operations, connecting global exchanges with both Philippine users and regulators. This partnership allows Binance to operate in the Philippines under a locally approved and supervised framework, without needing its own exchange license during the trial period.
Since BlockShoals is already reporting its testing to the Philippine SEC, this setup allows regulators to directly see how a global exchange works with local users and regulations – a level of openness that isn’t possible with an unofficial operation.
The Regulatory Context
The Philippines is a promising market for digital assets. It has a high rate of cryptocurrency adoption, driven in part by money sent home from Filipinos working abroad, and its government is developing clear rules for virtual assets through the Bangko Sentral ng Pilipinas and the Securities and Exchange Commission. BlockShoals is the fourth company to be approved for the SEC’s testing program, which also includes firms exploring US stock services and tokenized real estate, as announced last November.
Binance announced a partnership in the Philippines focused on encouraging safe and responsible use of digital assets, protecting users, and fostering innovation. This initiative aligns with Binance’s wider efforts since 2023 to improve its compliance and rebuild relationships with regulators in various countries.
This is a significant step for Binance in Asia-Pacific and how crypto companies work with regulators in Southeast Asia. Operating through a local partner with a license is a different approach than Binance’s previous direct presence – it’s more limited initially, but could be much more sustainable if the two-year trial period satisfies the Philippine Securities and Exchange Commission’s requirements.
Cover image from Grok, BTCUSD chart from Tradingview
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2026-05-26 15:28