Binance, Blockshoals to test crypto platform in Philippine sandbox

Binance and local partner Blockshoals Technologies Inc. will run a supervised crypto trading pilot in the Philippine Securities and Exchange Commission’s Strategic Sandbox, or StratBox, starting in the second half of 2026 and lasting at least two years.

Blockshoals will act as the domestic Crypto Asset Intermediary approved by the SEC and will follow an SEC-approved testing plan. Binance will provide platform infrastructure, security, operations and compliance systems developed from its work in regulated markets. The initial phase will focus on proving controls and user flows before any wider rollout.

StratBox allows regulators to supervise live tests of crypto-asset services so they can evaluate risk controls, consumer protections and market infrastructure under real conditions. Blockshoals received in-principle approval from the SEC on Nov. 12, 2025 for a sandbox proposal that involved a global exchange partner, subject to remaining compliance requirements.

The partners intend to set milestones across the two-year testing window to track performance and regulatory outcomes and to adjust product settings and compliance controls for Philippine users.

In a statement, Binance described the initiative as: “This initiative creates a controlled and supervised environment for financial innovation, allowing new models to be tested responsibly within an appropriate regulatory structure.” The exchange added that partnering with a local intermediary reflects a compliance-first approach aimed at user protection and regulatory engagement.

The Philippines ranked ninth on a global crypto adoption index in 2025, reflecting ongoing retail and grassroots use of crypto services. The pilot will operate under SEC supervision as regulators monitor how controls perform in the local market.

Philippine authorities have previously challenged Binance’s local presence. The SEC warned in 2023 that Binance lacked authorization to offer securities or operate an exchange in the country and in 2024 restricted access to the platform and removed its apps from local app stores. The Blockshoals structure places local operational responsibility with an entity approved by the SEC.

During the testing period, regulators will review risk controls, operational resilience and measures for protecting retail customers. If the SEC’s requirements are met, the results could inform how virtual-asset services are permitted to operate more widely in the Philippine market.