Crypto exchange Binance is partnering with fintech company BlockShoals Technologies in what the platform described as its first formal market-entry approach in the Philippines, through local partnerships and regulatory engagement.
On Tuesday, Binance announced the partnership, highlighting that BlockShoals is an approved participant under the Philippine Securities and Exchange Commission’s (SEC) Strategic Sandbox, or StratBox, framework. Binance said BlockShoals will serve as the approved local intermediary, while the exchange will provide technology, security, operational and compliance support.
A Binance spokesperson told Cointelegraph that the company is pursuing a compliance-oriented market approach in collaboration with local stakeholders. “This represents Binance’s first formal market entry approach in the Philippines through local partnerships and regulatory engagement,” the spokesperson said.
The arrangement marks Binance’s latest attempt to establish a regulated presence in the Philippines after access to the exchange was previously restricted in the country. Binance said the sandbox phase is expected to begin in the second half of 2026 and continue for at least two years under the SEC framework.
At the time of writing, Binance remains blocked, following a directive from the National Telecommunications Commission (NTC), the country’s telecommunications regulator.
Binance remains blocked in the Philippines. Source: Cointelegraph
Binance was blocked in the Philippines over licensing concerns
The Philippine SEC first warned the public against Binance in November 2023, saying that the platform was not authorized to sell or offer securities in the country because it had not secured the necessary registration and license from the regulator.
In March 2024, the SEC said that it had asked the NTC to block access to the platform and its related webpages, citing the lack of a license to operate in the Philippines. Local internet service providers later started restricting access to Binance following the NTC order.
The crackdown on unlicensed operators later expanded to other major platforms. In August 2025, the SEC issued an advisory against 10 exchanges, including OKX, Bybit, KuCoin and Kraken, warning that their activities expose Filipino investors to risks.
On April 21, the regulator named crypto platforms dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv, and Ostium in an investor alert, saying that the entities are not registered with the SEC but appear to be offering investments to the public.
