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Binance has worked closely with the Philippine SEC over the past 24 months to ensure compliance with local regulatory requirements as part of a push to bring crypto trading under formal domestic supervision.
The company is seeking to return to the Philippine market through the SEC’s Regulatory Sandbox system, specifically via the StratBox program designed to test and regulate new digital asset services.
Binance has collaborated with BlockShoals Technologies to ensure compliance, strengthen investor safeguards, and bring offshore crypto activity into a regulated framework, local news outlet InsiderPH reported Tuesday.
BlockShoals Technologies is a registered Crypto Asset Intermediary under the SEC’s Crypto Asset Service Provider regime and now functions as Binance’s local service provider in the Philippines. The firm, headed by Anthony Te, said it successfully completed a rigorous, multi-year application and sandbox process involving ongoing regulatory conditions and compliance requirements.
Binance’s global approach relies on partnerships with local entities experienced in financial regulation, capital markets, and banking systems. In the Philippines, BlockShoals and its leadership were selected for their background in traditional finance and understanding of domestic regulatory expectations.
Both companies also criticized unregulated crypto platforms, warning that operating outside official oversight increases risks related to anti-money laundering compliance gaps and limited investor recourse. They argued that regulatory alignment is key to building safer and more transparent digital asset markets.
The firms described the partnership as a key milestone for crypto access in the Philippines, where many users have historically relied on offshore exchanges.
They said the arrangement will allow Filipino users to access Binance through a locally registered, SEC-supervised structure supported by BlockShoals’ institutional experience across banking and commodities.
How the StratBox framework works
StratBox was established through SEC Memorandum Circular No. 9, Series of 2024. It’s a controlled environment where fintech companies can live-test their products under direct supervisory oversight. The testing window runs for up to 24 months.
The SEC granted BlockShoals in-principle approval for StratBox participation on November 12, 2025. That makes BlockShoals the fourth entity admitted to the program.
BlockShoals isn’t functioning as a direct retail exchange operator. It’s acting as a local intermediary, essentially a bridge between Binance’s global infrastructure and Philippine regulatory requirements. Binance provides the technology and operational backbone. BlockShoals handles the compliance layer on the ground.
Testing activities are projected to commence in the second half of 2026.
Binance’s rocky history in the Philippines
Binance’s regulatory challenges in the Philippines have progressed through a series of escalating actions.
In late 2023, the Philippine SEC issued warnings that Binance was an unregistered exchange operating and soliciting investments without authorization. In March 2024, the National Telecommunications Commission ordered internet service providers to block Binance’s websites and digital platforms.
By early 2026, restrictions tightened further, resulting in Binance’s app being removed from both Google Play and Apple’s App Store in the Philippines.