Insider Spotlight
In a statement to InsiderPH, BlockShoals officials said it is a registered Crypto Asset Intermediary under the SEC’s Crypto Asset Service Provider rules and now serves as Binance’s local service provider..
The company, which is led by businessman Anthony Te, added that it underwent a “rigorous application process” with regulators spanning more than two years.
Binance’s strategy globally is to enter regulated markets through local partners with experience in legal, regulatory, and financial services environments. As such, BlockShoals and its principals were selected because of their background in capital markets, banking, and commodities, the group said.
Pushback
The firms also pushed back against criticism from unregulated crypto operators, arguing that operating outside regulatory oversight exposes users to risks such as lack of anti-money laundering compliance and limited legal recourse.
Te, who owns Blockshoals Technologies, is a veteran of the banking, commodities, and capital markets sectors who currently serves as a director of the stock exchange and a local commercial bank.
Why it matters
The partnership marks a major step for Binance in the Philippines after years of scrutiny over crypto regulation and offshore exchanges operating in the country. The firms positioned the arrangement as a way to give Filipino users access to a regulated digital asset platform under local oversight.
Binance said the SEC’s move to bring the exchange into a regulated framework reflects the “maturity of the SEC as an Asian regulator” and advances investor protection.
BlockShoals disclosed that the SEC commission en banc granted in-principle approval for the company to enter the StratBox regulatory sandbox in November 2025. Since then, the company said it has been complying with every condition imposed by the regulator to ensure products conform with Philippine law.
The bigger picture
The companies framed the partnership as part of broader efforts to formalize crypto access in the Philippines, where millions of users have reportedly turned to offshore trading platforms.
“For the first time, Filipino users will have access to the world’s largest digital asset exchange through a locally registered, SEC-regulated entity,” Binance said.
“Binance believes the future of digital assets will be built alongside credible local institutions and experienced market participants,” it added.
“In the Philippines, BlockShoals and its principals were selected for their deep experience across capital markets, banking, and commodities, as well as their understanding of local governance and regulatory expectations.” — Daxim L. Lucas | Ed: Corrie S. Narisma
