Philippine regulators approved a 90-day sandbox test allowing Binance to onboard local users through a licensed partner.
Binance has entered the Philippine market after the Securities and Exchange Commission (SEC) approved Blockshoals Technologies Inc. to test its financial products within a regulatory sandbox. The approval permits a 90-day integration period with Binance as its global crypto-asset service provider (CASP) partner.
Blockshoals will enable Philippine users to access Binance services upon successful integration and regulatory oversight. The SEC’s sandbox framework aims to evaluate fintech innovations under controlled conditions before full-scale deployment.
No immediate market reaction was disclosed, but the move expands Binance’s presence in Southeast Asia amid evolving crypto regulations.