TLDR:
- Binance partnered with BlockShoals Technologies as its official SEC-registered crypto service provider in the Philippines.
- BlockShoals received in-principle SEC sandbox approval in November 2025 after a two-year regulatory engagement process.
- Filipino users can now access Binance through a locally registered, SEC-regulated entity for the very first time.
- Binance selected BlockShoals for its leadership’s deep background in capital markets, banking, and commodities sectors.
Binance, the world’s largest cryptocurrency exchange, is making a regulated comeback in the Philippines. The exchange has partnered with local fintech firm BlockShoals Technologies to operate under the Securities and Exchange Commission’s oversight.
This move follows more than two years of regulatory engagement. The partnership gives Filipino users access to a globally recognized digital asset platform through a locally registered entity for the first time.
BlockShoals Secures SEC Sandbox Approval After Lengthy Process
BlockShoals Technologies confirmed it is a registered Crypto Asset Intermediary under the SEC’s Crypto Asset Service Provider rules.
The company serves as Binance’s official local service provider in the country. This position came after a rigorous application process that lasted over two years with Philippine regulators.
The SEC commission en banc granted BlockShoals in-principle approval to enter the StratBox regulatory sandbox in November 2025.
Since then, the company has worked to meet every condition set by the regulator. Its goal is to ensure all products comply fully with Philippine law.
BlockShoals is led by businessman Anthony Te, a veteran across banking, commodities, and capital markets. Te currently serves as a director at a local stock exchange and a commercial bank. His background was a key factor in his firm’s selection as Binance’s local partner.
Binance’s global strategy involves entering regulated markets through experienced local partners. The exchange seeks partners with strong backgrounds in legal, regulatory, and financial services. BlockShoals and its principals met those criteria, according to both companies.
Binance Positions Partnership as a Step Toward Formal Crypto Access
The companies have framed this partnership as part of broader efforts to formalize crypto access in the Philippines.
Millions of Filipino users have reportedly relied on offshore trading platforms without local regulatory protection. This arrangement aims to change that by bringing Binance under local oversight.
Binance was direct about what this partnership means for Filipino investors. “For the first time, Filipino users will have access to the world’s largest digital asset exchange through a locally registered, SEC-regulated entity,” the exchange said in a statement.
Both firms also pushed back against criticism from unregulated crypto operators. They argued that operating outside regulatory oversight exposes users to serious risks. These include weak anti-money laundering compliance and limited legal recourse in disputes.
Binance stated that the SEC’s decision reflects the “maturity of the SEC as an Asian regulator.” The exchange added that the move advances investor protection across the country. This framing aligns with the SEC’s broader mandate to protect retail participants in digital asset markets.
The exchange was equally clear about its long-term vision for the region. “Binance believes the future of digital assets will be built alongside credible local institutions and experienced market participants,” it noted.
“In the Philippines, BlockShoals and its principals were selected for their deep experience across capital markets, banking, and commodities, as well as their understanding of local governance and regulatory expectations.”
The partnership also marks a turning point after years of scrutiny over offshore exchanges operating in the Philippines. Regulators had previously moved to block Binance over licensing concerns.
Through this new arrangement, both parties say they have found a compliant path forward that benefits Filipino investors directly.
