Users of PLDT can now access Binance’s Philippine site after the telecom giant restored the platform on its network, marking a significant move following Globe Telecom’s similar action in May. The exchange is making its comeback via BlockShoals Technologies, a local crypto intermediary authorized by the Securities and Exchange Commission (SEC) under its Strategic Regulatory Sandbox. This setup allows Binance to operate under close regulatory supervision while it tests compliance in the Philippine market.
BlockShoals acts as an introducing intermediary rather than a direct operator. Binance services themselves are provided by entities regulated in Abu Dhabi, meaning the local Philippine site is more a gateway than a full-fledged exchange on its own. While access is back, users are still waiting for Philippine peso payment channels to go live, pending final integration work by BlockShoals.
Changpeng Zhao, Binance’s co-founder, confirmed the restoration on social media, highlighting the unique sandbox license Binance holds in the Philippines. His comments came after a public discussion at the ASEAN Tech Summit in Manila, where he also mentioned upcoming fiat payment options. This regulated return comes after Binance was blocked across the country in 2024, when the SEC cracked down due to Binance’s previous unlicensed operations.
