Binance Returns to Philippines via BlockShoals Partnership

Crypto exchange Binance has made its return to the Philippines through local firm BlockShoals Technologies Inc., more than two years after the Securities and Exchange Commission blocked access due to operating without a license.

The SEC's Strategic Sandbox framework allows firms like BlockShoals to test financial products under regulatory supervision for at least two years as a crypto-asset intermediary.

Binance provides global trading technology, while BlockShoals handles local customer operations and regulatory compliance. The integration phase includes linking BlockShoals to Bangko Sentral ng Pilipinas-licensed virtual asset service providers for peso deposits and withdrawals, as well as validating anti-money laundering controls.