Binance announced a partnership with fintech company BlockShoals Technologies in an attempt to formally enter the Philippine market, a country that has blocked access to the exchange since 2024.
BlockShoals is an approved participant in the StratBox framework, the strategic sandbox of the Securities and Exchange Commission (SEC) of the Philippines, and will act as local intermediary while Binance provides technological, security and regulatory compliance support.
A company spokesperson stated that the initiative marks the first formal attempt to enter the Philippine market through local partnerships and regulatory commitments. The sandbox phase is scheduled to begin in the second half of 2026 and run for at least two years.
The block originated in November 2023, when the Philippine SEC publicly warned that Binance was operating without the required license and registration to offer securities in the country. In March 2024, the regulator asked the National Telecommunications Commission (NTC) to restrict access to the platform, an order that local internet providers began enforcing shortly after.
Source: https://www.binance.com/en/blog/ecosystem/8356662887922619394
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