Binance partners with BlockShoals as it eyes return to PHL market

CRYPTO EXCHANGE Binance has partnered with BlockShoals Technologies, Inc. as it eyes to re-enter the Philippine market via the strategic sandbox (StratBox) framework of the Securities and Exchange Commission (SEC).

BlockShoals is a Philippine-incorporated financial technology company that the SEC has authorized to operate as a Crypto Asset Intermediary (CAI) under its StratBox testing framework. It will be the entity through which Filipino users will be able to access Binance products and services within a controlled regulatory environment.

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

“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. 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,” Binance Head of Asia Pacific SB Seker said.

The SEC En Banc approved the testing plan of BlockShoals on Nov. 21, 2025. A notice to proceed was issued on April 14.

“BlockShoals maintains full responsibility for local regulatory compliance and user-facing operations, while Binance provides backend technology infrastructure and strategic support.”

For the first phase, BlockShoals will integrate its systems with its partner virtual asset service provider during an initial 90-day integration period. 

Following this, it will start user onboarding, subject to applicable safeguards and SEC requirements.

During the testing period, BlockShoals will operate under strict regulatory oversight to ensure full compliance with the SEC StratBox framework requirements.

Binance said the sandbox phase is expected to begin in the second half of this year and continue for at least two years.

“Within this period, the partners intend to evaluate a tailored platform experience designed specifically for users in the Philippines, with gradual expansion based on regulatory milestones and performance assessments.”

In April 2024, the SEC removed Binance’s applications from the app markets of Apple and Google in the Philippines due to operating without the appropriate license or an exchange for the buying and selling of securities, as mandated by the Securities Regulation Code.

It also requested the National Telecommunications Commission to block access to websites used by Binance in the Philippines.

The platform has an average daily trading volume of $65 billion, covering more than 500 cryptocurrencies and serving more than 280 million users globally. — Aaron Michael C. Sy