Binance-backed crypto trading edges closer to PH launch as BlockShoals picks virtual asset provider

Move signals progress in planned return of crypto trading under regulatory framework.

Trading with Binance will soon resume for Filipinos as the crypto giant’s regulatory partner announces a selected service provider.

BlockShoals Technologies Inc. said on June 12 it has selected a virtual asset service provider (VASP) to commence cryptocurrency trading in the Philippines. A VASP is an entity that facilitates the sale, use, or access to virtual asset services such as cryptocurrency trading.

Binance announced on May 25 it was returning to the Philippine market through a partnership with BlockShoals, confirming a radar Business exclusive report from December 2025.

The Securities and Exchange Commission (SEC) approved BlockShoals in November 2025 to test innovative fintech services not yet covered by local regulations.

BlockShoals said it was finalizing its agreement with the VASP partner and securing the necessary regulatory documents before opening trade to the public. Neither BlockShoals nor Binance have announced a timeline for when cryptocurrency trading will be made available to the public.

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