Binance has partnered with BlockShoals Technologies as it seeks a regulated path back into the Philippines.
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.
The exchange said on May 26 that the partnership will operate under the Philippine Securities and Exchange Commission’s Strategic Sandbox, also known as StratBox.
BlockShoals is a Philippine-registered company approved under the SEC’s Crypto Asset Intermediary framework within the sandbox structure. Binance said BlockShoals will serve as the approved local intermediary, while Binance will provide technology, security, operations, product support, and compliance experience.
SEC sandbox gives Binance a new route
Binance said the arrangement aims to test a tailored platform experience for users in the Philippines inside a supervised environment. The company described the sandbox as a “controlled and supervised environment” for financial innovation.
The sandbox phase is expected to begin in the second half of 2026 and run for at least two years, in line with the SEC framework. Binance said the process will allow the partners to meet regulatory milestones before any wider rollout.
Seker, Binance’s Head of APAC, said the Philippines is one of Southeast Asia’s most active digital economies. He said frameworks such as StratBox create paths for “responsible innovation” and better cooperation between regulators and industry participants.
Binance remains blocked in the Philippines
The partnership comes after Binance lost access in the Philippines. As previously reported by crypto.news, the Philippine SEC found in late 2023 that Binance was offering unregistered securities and operating as an unlicensed broker.
By March 2024, the National Telecommunications Commission had blocked access to Binance’s website after the SEC requested action. This case became a model for how the regulator could move against other unregistered platforms.
The SEC later widened its pressure on unregistered crypto exchanges. As previously reported, the regulator named OKX, Bybit, MEXC, KuCoin, Bitget, Phemex, CoinEx, BitMart, Poloniex, and Kraken in an August 2025 advisory.
Philippines tightens crypto exchange rules
The Philippines’ Crypto Asset Service Provider rules took effect on July 5, 2025. crypto.news reported that the rules require crypto service providers to register, maintain a local corporate presence, meet disclosure standards, and follow anti-money laundering safeguards.
The regulator also warned that unregistered platforms could face cease and desist orders, criminal complaints, website blocking, app removal, and action against online promotions. That gives Binance’s sandbox path a clear regulatory reason.
