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Manila Bulletin devider Business devider The Stock Market devider BlockShoals to offer Binance's crypto products, services in Philippines

BlockShoals to offer Binance's crypto products, services in Philippines

Published May 27, 2026 02:17 pm

Local fintech firm BlockShoals Technologies Inc. has been allowed by the Securities and Exchange Commission (SEC) to operate as a crypto asset intermediary (CAI), giving Filipinos access to the products and services of Binance, the world’s largest crypto exchange.

Under the partnership, BlockShoals will maintain full responsibility for local regulatory compliance and user-facing operations, while Binance will provide backend technology infrastructure and strategic support.

As part of the first phase of testing, BlockShoals will integrate its systems with its partner virtual asset service provider (VASP) during an initial 90-day integration period, in line with its approved testing plan.

Following successful integration, the company will proceed with user onboarding, subject to applicable safeguards and SEC requirements.

BlockShoals said the partnership with Binance forms part of the rollout of regulated testing under the SEC’s strategic sandbox (StratBox) framework in accordance with its approved testing plan within a controlled regulatory environment.

The company received in-principle approval from the SEC en banc last Nov. 21, 2025, and later secured a notice to proceed dated April 14, 2026, authorizing it to operate as a CAI under SEC Memorandum Circular (MC) No. 9, series of 2024.

“This partnership is an opportunity to demonstrate that global digital asset platforms and local regulatory frameworks can work together constructively,” BlockShoals said.

It added: “As a Philippine-incorporated company operating under the direct supervision of the SEC, we are focused on building a secure and locally accountable platform for Filipino users.”

BlockShoals said it will operate under strict regulatory oversight throughout the testing period, with legal and strategic guidance from Arden Consult to ensure full compliance with the requirements of the SEC StratBox framework and applicable laws and regulations.

Arden Consult is a legal and advisory firm specializing in market entry for highly regulated industries such as fintech, iGaming, and technology, media, and telecommunications.

For its part, Binance said the Philippines remains one of Southeast Asia’s fastest-growing digital economies.

“The Philippines is one of the most dynamic digital economies in Southeast Asia, with a highly engaged and digitally native population that continues to drive adoption of emerging financial technologies,” Binance said.

“We believe frameworks like StratBox represent an important step in enabling responsible innovation by creating pathways for industry participants and regulators to work together constructively,” it added. - James A. Loyola

Related Tags

Securities and Exchange Commission Binance BlockShoals Technologies Inc.
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