Binance is working with BlockShoals Technologies to try and resume operations in the Philippines with proper regulatory approval.
Summary
- Binance partnered with BlockShoals, an approved participant under the Philippine SEC’s StratBox sandbox framework.
- BlockShoals will act as the approved local intermediary while Binance provides technology and compliance support.
- Binance remains blocked in the Philippines after the SEC raised licensing concerns in 2024.
On May 26th, the exchange announced the partnership will be tested and run under the supervision of the Philippine Securities and Exchange Commission’s StratBox program—a special initiative designed for innovative financial solutions.
BlockShoals is a Philippine company authorized by the SEC to work with crypto assets as part of a test program. Binance will be partnering with BlockShoals, with BlockShoals acting as the official local partner in the Philippines. Binance will provide the technology, security, and support needed, along with its expertise in following regulations.
As a crypto investor, I’m really encouraged to see initiatives like the Philippine SEC’s StratBox. I’m partnering with BlockShoals to support it because it’s all about fostering innovation while also protecting users – a win-win! I’m excited to see where this goes and how it will shape the future of crypto in the Philippines.
— Binance (@binance) May 26, 2026
SEC sandbox gives Binance a new route
As an analyst, I understand Binance is launching a pilot program in the Philippines. Essentially, they’re creating a special, closely monitored platform to test a customized experience for users there. They’ve described it as a ‘sandbox’ – a safe, controlled space to try out new financial innovations and see how they perform.
Binance anticipates the initial testing phase, or ‘sandbox,’ will start in late 2026 and last a minimum of two years, following guidelines from the SEC. This testing period will help partners satisfy all regulatory requirements before the service is made available to the public.
According to Binance’s Head of APAC, Seker, the Philippines is a leading digital economy in Southeast Asia. He believes initiatives like StratBox can encourage responsible development in the digital space and improve collaboration between regulators and businesses.
Binance remains blocked in the Philippines
This collaboration follows Binance being blocked in the Philippines. As crypto.news reported earlier, the Philippine Securities and Exchange Commission determined in late 2023 that Binance was offering securities without proper registration and functioning as a broker without a license.
As a crypto investor, I saw things shift in March 2024 when the National Telecommunications Commission blocked access to Binance’s website. It happened after the SEC asked them to, and it felt like a warning shot. It really seemed like the SEC was establishing a process for going after other crypto platforms that weren’t properly registered – basically, setting a precedent for future actions.
The Securities and Exchange Commission (SEC) increased its scrutiny of cryptocurrency exchanges that aren’t properly registered. Back in August 2025, the SEC specifically called out exchanges like OKX, Bybit, MEXC, KuCoin, Bitget, Phemex, CoinEx, BitMart, Poloniex, and Kraken in a public notice.
Philippines tightens crypto exchange rules
New rules for crypto businesses in the Philippines went into effect on July 5, 2025. According to crypto.news, these rules require companies offering crypto services to register with the government, establish a physical office in the Philippines, be transparent about their operations, and prevent money laundering.
The regulator cautioned that platforms operating without proper registration could be shut down, face legal charges, have their websites blocked, be removed from app stores, and have their online advertising stopped. This explains why Binance is pursuing a regulatory ‘sandbox’ approach – it provides a clear path to operate within the rules.
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2026-05-26 14:55