BIZ BUZZ: Crypto bros, rejoice!
Filipino investors eager to invest in crypto issues may have a new reason to smile with the return of Binance, the world’s largest crypto exchange by trading volume.
This, after local firm BlockShoals Technologies Inc. inked a partnership with Binance in connection with the commencement of regulated testing under the Strategic Sandbox framework of the Securities and Exchange Commission (SEC).
The SEC earlier issued a notice to proceed, allowing BlockShoals to officially start its testing as a Crypto Asset Intermediary within the StratBox, according to the approved plan.
With the paperwork in hand, Filipino users will be able to access Binance products and services within a controlled regulatory environment.
To kick things off in style, Biz Buzz learned that BlackShoals will soon integrate its systems with its partner virtual asset service provider, described as one of the leading names in the local financial technology space.
BlockShoals officials said: “This partnership is an opportunity to demonstrate that global digital asset platforms and local regulatory frameworks can work together constructively. As a Philippine-incorporated company operating under the direct supervision of the SEC, we are focused on building a secure and locally accountable platform for Filipino users. We thank the Commission for the opportunity to participate in the StratBox and are committed to earning continued confidence through our performance.”
SB Seker, head of Asia Pacific at Binance, said: “The Philippines is one of the most dynamic digital economies in Southeast Asia, with a highly engaged and digitally native population that continues to drive adoption of emerging financial technologies. We believe frameworks like StratBox represent an important step in enabling responsible innovation by creating pathways for industry participants and regulators to work together constructively.”
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