Cryptocurrency exchange Binance is partnering with fintech firm BlockShoals Technologies in what the platform described as its first formal market entry attempt in the Philippines through local partnerships and regulatory involvement.

Binance on Tuesday announced partnership, highlighting that BlockShoals is an approved participant in the Philippine Securities and Exchange Commission (SEC) Strategic Sandbox (StratBox). Binance says BlockShoals will serve as an approved local intermediary, while the exchange will provide technology, security, operational and compliance support.

A Binance spokesperson told Cointelegraph that the company is taking a compliance-oriented market approach in collaboration with local stakeholders. “This is Binance’s first formal foray into the Philippine market through local partnerships and regulatory involvement,” the spokesperson said.

The agreement marks Binance’s latest attempt to establish a regulated presence in the Philippines after exchange access was previously restricted in the country. Binance says the sandbox phase is expected to begin in the second half of 2026 and last for at least two years under the SEC.

At the time of writing, Binance remains blocked in accordance with a directive from the National Telecommunications Commission (NTC), the country’s telecommunications regulator.

Binance remains blocked in the Philippines. Source: Cointelegraph

Binance has been blocked in the Philippines due to licensing issues

First, the Philippine SEC warned public opinion against Binance in November 2023, claiming that the platform is not authorized to sell or offer securities in the country because it has not obtained the necessary registration and license from the regulator.

In March 2024, the SEC he said that it had asked the NTC to block access to the platform and its related websites, citing its lack of a license to operate in the Philippines. Local ISPs later began restricting access to Binance in compliance with the NTC order.

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Then a crackdown on unlicensed operators expanded to other major platforms. In August 2025, the SEC issued an advisory on 10 exchanges, including OKX, Bybit, KuCoin and Kraken, warning that their activities put Filipino investors at risk.

On April 21, the regulator named crypto platforms dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv and Ostium in an investor alert, saying the entities are not registered with the SEC but appear to offer investments to the public.

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