Philippine fintech firm BlockShoals Technologies has partnered with crypto exchange Binance as part of the Securities and Exchange Commission’s (SEC) Strategic Sandbox (StratBox) framework, marking the exchange’s latest move to regain a foothold in the country after regulators previously ordered its blocking for operating without a license.
In a statement, BlockShoals said the SEC has authorized the company to proceed with testing after receiving in-principle approval from the agency in November 2025 and a Notice to Proceed dated April 14, 2026.
The company was cleared to operate as a Crypto Asset Intermediary (CAI) under SEC Memorandum Circular No. 9, Series of 2024.
Under the arrangement, BlockShoals will act as the locally regulated entity within the sandbox, while Binance will provide backend technology infrastructure and operational support.
Filipino users will eventually gain access to Binance products and services within what the companies described as a “controlled regulatory environment.”
The development comes more than two years after the SEC moved to block Binance’s operations in the Philippines for allegedly offering investment products without the necessary license.
In March 2024, the regulator formally requested the National Telecommunications Commission (NTC) to block access to Binance’s website and related Web pages, citing risks to Filipino investors.
The SEC had earlier warned the public against using Binance and said the exchange was not registered as a corporation in the Philippines nor licensed to solicit investments or operate an exchange for securities trading under the Securities Regulation Code.
Following the SEC directive, major Philippine telecommunications firms began restricting access to Binance’s website in March 2024.
The companies said the first phase of testing under StratBox will involve a 90-day integration period between BlockShoals and its partner virtual asset service provider (VASP). User onboarding will follow, subject to SEC safeguards and requirements.
“This partnership is an opportunity to demonstrate that global digital asset platforms and local regulatory frameworks can work together constructively,” BlockShoals officials said.
“As a Philippine-incorporated company operating under the direct supervision of the SEC, we are focused on building a secure and locally accountable platform for Filipino users.”
Binance Asia-Pacific head Seker said the Philippines remains “one of the most dynamic digital economies in Southeast Asia,” adding that the StratBox framework provides “an important step in enabling responsible innovation.”
BlockShoals said it will remain responsible for local regulatory compliance and user-facing operations during the testing period, while legal and strategic guidance will be provided by Arden Consult.
