Binance remains blocked in the Philippines after a 2024 NTC directive tied to SEC concerns over licensing and registration.
Crypto exchange Binance is partnering with fintech company BlockShoals Technologies in what the platform described as its first formal market-entry approach in the Philippines, through local partnerships and regulatory engagement.
On Tuesday, Binance announced the partnership, highlighting that BlockShoals is an approved participant under the Philippine Securities and Exchange Commission’s (SEC) Strategic Sandbox, or StratBox, framework. Binance said BlockShoals will serve as the approved local intermediary, while the exchange will provide technology, security, operational and compliance support.
A Binance spokesperson told Cointelegraph that the company is pursuing a compliance-oriented market approach in collaboration with local stakeholders. “This represents Binance’s first formal market entry approach in the Philippines through local partnerships and regulatory engagement,” the spokesperson said.
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