BlockShoals Technologies, Inc. has joined FinTech Alliance PH, strengthening its links with the country’s wider financial technology industry as it prepares to support Binance products and services under the Securities and Exchange Commission’s Strategic Sandbox framework.
The Philippine-incorporated company has been approved to undergo testing as a Crypto Asset Intermediary under the SEC’s Strategic Sandbox, or StratBox. Its admission to the sandbox should not be mistaken for a commercial license or an immediate public relaunch of Binance in the Philippines.
BlockShoals said its FinTech Alliance PH membership would support collaboration on regulatory compliance, consumer protection, financial education, digital payments, and inclusive finance.
FinTech Alliance PH has more than 100 corporate members that collectively account for over 95% of the country’s digital retail financial transaction volume. The organization also established an industry-led Code of Conduct and Code of Ethics intended to guide participating financial technology companies.
BlockShoals takes on local regulatory responsibilities
Under the arrangement, BlockShoals serves as the locally incorporated operating entity responsible for regulatory engagement, Philippine user-facing activities, and compliance with applicable domestic requirements.
Binance provides the underlying technology, global infrastructure, liquidity, security systems, products, and operational support. However, any services eventually offered to Philippine users will remain subject to the sandbox testing plan and the guidance or approval of the relevant regulators.
BlockShoals legal adviser Atty. Marie Antonette “Tonet” Quiogue described the model during a July 28 media roundtable as an effort to combine a global product with local consumer protection.
Quiogue said BlockShoals would provide a Philippine entity that users and regulators could approach when concerns arise, while Binance would support the platform and technical infrastructure behind the service. She added that new products would be reviewed by the regulator with jurisdiction over them, whether the SEC, the Bangko Sentral ng Pilipinas (BSP), or another government agency.
The 90-day period is not a public launch
BlockShoals and Binance are initially working through a controlled 90-day technical integration period under the approved sandbox plan.
The period is dedicated to system synchronization, compliance testing, integration with BSP-licensed Virtual Asset Service Provider rails, and validation of anti-money laundering and counter-terrorist financing reporting processes.
Company representatives emphasized that the 90-day window does not constitute a commercial reopening or public trading launch. The companies must first establish secure operational connections and demonstrate that their systems can meet Philippine regulatory requirements.
Philippine peso deposits and withdrawals are expected to pass through a BSP-licensed VASP partner. BlockShoals will also be responsible for local customer due diligence, know-your-customer verification, and other requirements applicable under Philippine anti-money laundering rules.
Products will be introduced in stages
The broader sandbox program is expected to run for at least two years.
During the media roundtable, BlockShoals representatives said the approved testing plan contains several phases. The first phase is expected to begin once compliant fiat payment rails are connected, allowing eligible users to convert Philippine pesos into crypto assets and vice versa.
Access will not necessarily be the same for every product. Basic services may be available to users who successfully complete onboarding, while more complex or higher-risk products may require additional knowledge, skills, and experience assessments.
Users could therefore be required to complete knowledge assessments before gaining access to certain services. The approach is intended to match products with customers who understand their features and risks.
Binance and BlockShoals also expect to submit detailed product-level information to the SEC during the sandbox. These submissions may cover user adoption, customer profiles, product outcomes, risks, and other operating data, allowing the regulator to determine whether individual services remain appropriate for the Philippine market.
Membership could support institutional partnerships
Joining FinTech Alliance PH may also give BlockShoals and Binance more opportunities to work with banks, payment companies, remittance providers, securities issuers, and other regulated financial institutions.
During the event, Binance Philippines General Manager Jen Bilango said the company does not necessarily view the traditional financial sector as a competitor. Instead, Binance could provide blockchain infrastructure that local institutions may use to introduce new services.
Potential areas discussed included stablecoin-based cross-border settlement, institutional digital asset custody, tokenized bonds and securities, wallet infrastructure, liquidity services, and crypto-related products delivered through the existing applications of banks or other financial companies.
Binance representatives said the company could function as a technology and distribution partner while locally regulated institutions retain control of the customer relationship.
BlockShoals and Binance also identified remittances, merchant payments, corporate treasury settlement, and tokenization as possible long-term uses of blockchain beyond retail crypto trading.
Financial education remains part of the plan
BlockShoals COO Nicholas Te at the FinTech Alliance PH oath-taking ceremony during the gala night of the ASEAN Tech Summit held on July 28.
Consumer education is expected to form another part of the sandbox program.
Representatives said educational initiatives could target different groups, including women, young people, entrepreneurs, and consumers unfamiliar with digital assets. The objective would be to explain not only how the products work, but also the financial and technical risks involved.
Bilango, who was appointed general manager for the Philippines alongside the roundtable, will lead localization, partnerships, and community engagement. Her previous roles include leadership positions at BlockchainSpace and work at a locally licensed crypto exchange, as well as experience in investment banking and regulatory engagement.
BlockShoals Chairman Alfredo “Al” Panlilio said the company’s success should be measured not only through market share, but also through the confidence it earns from regulators, customers, partners, and communities.
Its FinTech Alliance PH membership places BlockShoals within a broader industry network as its operating model continues to be tested under the SEC sandbox. The more important milestone will come later: whether the company can satisfy the SEC’s requirements, introduce products responsibly, and eventually move from a controlled sandbox environment into a more permanent regulatory framework.
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Disclaimer: This article is based on information shared during a media roundtable, company-provided materials, and interviews with representatives of BlockShoals and FinTech Alliance PH. The content has been edited for clarity and journalistic style. Statements regarding products, operations, business plans, and customer outcomes are attributed to the companies unless otherwise indicated. FintechNewsPH publishes this report as a news article and does not endorse any financial product, digital asset, virtual asset service provider, or payment platform.
