He Yi: Binance officially complies and enters the Philippine market through its partner BlockShoals

He Yifa tweeted that Binance has officially entered the Philippine market. The accompanying official announcement shows that the Philippine Securities and Exchange Commission (SEC) has granted final approval to BlockShoals Technologies Inc., allowing it to launch testing of financial products and services under the Commission's Strategic Regulatory Sandbox (Stratbox) framework.

According to the content of the document, BlockShoals will operate using a crypto asset intermediary model, enabling local users in the Philippines to access products from its global crypto asset service provider (CASP) partners. As a core part of the initial testing phase, BlockShoals will complete system integration with local virtual asset service providers within 90 days; upon successful integration, BlockShoals will officially implement the approved testing plan under the supervision of applicable security guarantees and regulatory agencies, which includes user registration and onboarding through its global CASP partner Binance.