Crypto exchange Binance is making another attempt to enter the Philippine market through a new partnership with fintech firm BlockShoals Technologies.
The partnership can be seen as the exchange’s first step into the market formally via local collaboration and regulatory dialogue.
The deal was disclosed on Tuesday, with Binance asserting that BlockShoals is a registered participant of the StratBox program run by the Philippine Securities and Exchange Commission.
Binance had been active in the Philippines well prior to this new partnership, dealing with Filipino customers before facing the regulatory challenge. The attempt at registration came to the limelight somewhere around 2022-2023.
Terms of the agreement
Under the terms of the deal, BlockShoals will serve as the authorized local entity, while Binance will supply the technological framework. Moreover, Binance will also provide its security features and operational know-how for the platform.
On the other hand, Binance has stated that the firm is now adopting a compliance-centric strategy, working alongside local authorities and stakeholders.
As per Binance, the move marks the first attempt by the exchange to officially re-launch itself into the Philippine crypto scene using an approach involving collaboration with local regulatory authorities.
The move comes amid Binance’s efforts to re-establish a regulated presence in the country after it was earlier denied access because of a lack of proper licensing.
Binance Philippines sandbox phase set for two-year SEC review
Binance itself, according to the official announcement, will also have the sandbox phase under the SEC regulatory framework start sometime during the second half of 2026 and last for at least two years while regulators review the model and compliance measures.
Despite the new partnership, Binance still remains unavailable in the Philippines as of now due to the previous directive made by the National Telecommunications Commission, known as NTC.
The ISPs in the country began blacklisting Binance and other related websites due to the claim that the exchange operates without having the proper licenses required under Philippine securities laws.
Philippine’s previous crackdown on Binance
The Philippines’ SEC issued its first official warning against Binance back in November 2023, stating that the platform was unauthorized to sell and offer securities in the Philippines as it did not have the necessary licenses.
Only a few months later in March 2024, the regulator issued another warning and asked NTC to blacklist Binance, explaining that doing so would otherwise make Filipino investors vulnerable to financial risks.
Later on, the crackdown went beyond Binance after the regulators became stricter toward foreign crypto exchanges that served their clients in the Philippines without registering themselves properly.
The Philippine SEC issued advisories against 10 cryptocurrency platforms, including OKX, Bybit, KuCoin, and Kraken, back in August 2025. In the national regulatory body’s warning, the SEC indicated that the exchange’s operations might pose legal and financial risks for Filipino investors.
On April 21 of 2026, the regulatory body further continued expanding its actions by issuing an investor advisory warning. Platforms like dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv, and Ostium were among those identified as unregistered entities by the SEC, yet seemingly offering products for public investment.
Given that the company entered into a partnership with a local participant who was already running in the SEC sandbox structure, the move is likely aimed at demonstrating its higher level of compliance and restoring ties with regulators following many years of controversy.
As part of this trend, more exchanges globally are actively seeking partners, obtaining licenses, and participating in regulatory sandbox projects to operate in jurisdictions with increasingly tough regulatory requirements towards digital assets.