Binance has partnered with BlockShoals Technologies to seek a regulated return path to the Philippines.
Summary
- Binance has partnered with BlockShoals, an approved participant in the Philippine SEC’s StratBox sandbox.
- BlockShoals will act as the authorized local intermediary while Binance will provide technology and compliance support.
- Binance remains stuck in the Philippines after SEC raises licensing concerns in 2024.
The exchange announced on May 26 that the partnership would operate under the Philippine Securities and Exchange Commission’s Strategic Sandbox, also known as StratBox.
BlockShoals is a company registered in the Philippines and approved under the SEC’s Crypto Asset Intermediary within the sandbox structure. Binance said BlockShoals would serve as an approved local intermediary, while Binance would provide technology, security, operations, product support and compliance experience.
SEC Sandbox Gives Binance a New Path
Binance said the deal aims to test a tailored platform experience for users in the Philippines in 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 last at least two years, in accordance with the SEC framework. Binance said the process will allow partners to meet regulatory milestones before any wider rollout.
Seker, head of APAC at Binance, said the Philippines is one of the most active digital economies in Southeast Asia. He said frameworks such as StratBox are paving the way for “responsible innovation” and better cooperation between regulators and industry players.
Binance remains blocked in the Philippines
The partnership comes after Binance lost access to the Philippines. As previously reported by crypto.news, the Philippine SEC discovered in late 2023 that Binance was offering unregistered securities and operating as an unlicensed broker.
In March 2024, the National Telecommunications Commission had blocked access to Binance’s website after the SEC requested action. This case has become a model for how the regulator could act against other unregistered platforms.
The SEC then increased 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 notice.
Philippines tightens cryptocurrency trading rules
The Philippine rules for crypto asset service providers took effect on July 5, 2025. crypto.news reported that the rules require crypto service providers to register, maintain a local business presence, meet disclosure standards and follow anti-money laundering protection measures.
The regulator also warned that unregistered platforms could be subject to banning orders, criminal complaints, website blocking, app removal and action against online promotions. This gives Binance’s sandbox path a clear regulatory rationale.
