Binance founder Changpeng Zhao has described the Philippines as one of Southeast Asia’s most promising digital asset markets, citing the country’s growing cryptocurrency adoption and what he called a collaborative approach by regulators.
In a post on X after returning from the Philippines, Zhao said the country has climbed to fourth place globally in TRM Labs’ Country Crypto Adoption Index, reflecting the increasing use of digital assets among Filipinos.
“Just back from the Philippines. One of the most exciting digital asset markets in SEA right now,” Zhao wrote.
He also praised Philippine regulators, saying they are “collaborative, forward-thinking, focused on outcomes: consumer protection, innovation, growth.”
During his visit, Zhao said he met officials from the Department of Finance, including secretary Frederick Go, Securities and Exchange Commission (SEC) chairman Francis Lim, and executives of Philippine fintech firm BlockShoals Technologies.
He said discussions centered on the future direction of the digital asset industry and the country’s regulatory framework.
Zhao also highlighted the SEC’s in-principle approval for BlockShoals under the regulator’s StratBox regulatory sandbox through the PhiliFintech Innovation Office.
“This is what good regulation looks like. Build pathways, not walls,” Zhao said, adding that programs such as StratBox demonstrate the Philippines’ commitment to fostering innovation. “Confidence attracts capital. Capital funds innovation.”
Just back from the Philippines. One of the most exciting digital asset markets in SEA right now, jumping to 4th globally in TRM Labs' Country Crypto Adoption Index.
— CZ 🔶 BNB (@cz_binance) June 28, 2026
Their regulators get it. Collaborative, forward-thinking, focused on outcomes: consumer protection, innovation,… pic.twitter.com/MDJeCnkhRJ
His comments come about a month after Binance re-entered the Philippine market through a partnership with BlockShoals under the SEC’s Strategic Sandbox (StratBox) program.
Under the arrangement, BlockShoals is testing digital asset services within the SEC’s controlled regulatory environment while integrating Binance’s technology and infrastructure.
The initiative marked Binance’s return to the country following years of regulatory scrutiny and restrictions.
Zhao concluded his post by saying he remains “bullish on the Philippines” and on cryptocurrency, adding that he is “buying the dip.”
Neither the Department of Finance nor the SEC had separately disclosed details of Zhao’s meetings as of posting time.
