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The speculation is finally over. Global cryptocurrency giant Binance is making an official comeback to the Philippines.
In an announcement on Tuesday, Binance revealed a strategic partnership with local fintech firm BlockShoals Technologies Inc. to operate inside the Securities and Exchange Commission’s (SEC) Strategic Sandbox, known as the StratBox framework.
The Sandbox Playbook:
Here are some details we got based on all the recently available information:
BlockShoals will serve as the SEC-approved local intermediary running the live trial, while Binance supplies its global tech infrastructure, security systems, and compliance features.
VERY IMPORTANT TO TAKE NOTE: Contrary to speculation, the Binance brand will live on, meaning it will be “Binance Philippines by Blockshoals”, not “Blockshoals”.
The live testing phase will launch in the second half of 2026 and run for at least two years.
This move follows a string of local enforcement actions against Binance, culminating earlier this year, when its mobile applications were removed from Philippine app stores.
There is a lot more to this story that we intend to deep dive into soon! In the meantime here are more news from the past two weeks:
💳 Adoption & Payments Innovation
Coins Announces Bitcoin & Ethereum Payments via QRPh
Locally licensed exchange Coins .ph has officially integrated Bitcoin (BTC) and Ethereum (ETH) into its QRPh payment feature. Users can now instantly spend these blue-chip cryptos at roughly 700,000 QRPh-enabled merchants across the Philippines.
The system automatically converts the digital assets into Philippine Pesos (PHP) at checkout. If a transaction fails, the crypto conversion is seamlessly reversed.
More on Coins’ OFW Remittance Strategy
During a recent corporate event, Coins Global Marketing Director Amira Alawi shared that the platform is heavily targeting the Overseas Filipino Worker (OFW) remittance market. By leveraging stablecoins like USDT and USDC, Coins hopes to slash traditional remittance fees, which currently sit at a costly 3% to 5%.
The exchange is active in Thailand, Brazil, and Mauritius, with a Hong Kong launch up next.
🏛️ Local Regulation & Enforcementy
Globe Telecom Blocks Polymarket
Telecom giant Globe confirmed it has implemented network-level blocks against decentralized prediction marketplace Polymarket. The restriction was implemented after an endorsement from the Philippine Amusement and Gaming Corporation (PAGCOR) on May 14, 2026.
The regulatory clampdown follows Polymarket's aggressive Facebook marketing campaigns and the launch of a high-profile betting pool titled "Will the Philippine Senate convict Sara Duterte?"
As of late May, global traders placed a 31% to 32% probability on a Senate conviction.
While Globe users are greeted with an "Access Restricted" page hosted by the CICC, user testing reveals that PLDT users can still access the site. Furthermore, domestic wallets clarified they have no official ties to the platform; its local QRPh cash-in gateway was routed through a third-party provider called Fun .xyz.
Double Cease-and-Desist: SEC Shuts Down Riscoin and BG Wealth
The SEC's Enforcement and Investor Protection Department (EIPD) went on an enforcement spree on May 14 and May 20, looking to permanently stop two massive unregistered operations:
Riscoin: Flagged for running an unauthorized crypto "copy trading" scheme. Operating under parent entities like League of Seagull Ltd., the group lured victims into a minimum $500 investment promising guaranteed daily returns.
BG Wealth Sharing Ltd.: The SEC formalized a permanent Cease and Desist Order against the platform and its founder, Stephen Beard. This follows the platform's multi-million dollar "rug pull" and domain seizure by the FBI earlier this month.
Mayor Vico Sotto Warns Against Barangay Crypto Scam
Pasig City Mayor Vico Sotto issued an urgent warning to residents of Barangay Pinagbuhatan. Scammers posing as Local Government Unit (LGU) staff have been setting up physical booths to collect citizens' sensitive personal data in exchange for fake digital tokens. Sotto reiterated that Pasig has zero crypto or digital wallet programs and flagged a recent AI deepfake of his likeness used to promote similar fraudulent investments.
💻 Tech, Buidl, & Web3 Gaming
Congress Moves to Consolidate 30 Blockchain Bills into 'CADENA Act'
The House Committee on ICT, led by Rep. Migz Villafuerte, has proposed consolidating 30 separate blockchain and budget transparency bills into a single piece of legislation: The CADENA Act (HB 6235).
Undersecretary David Almirol Jr. revealed that the DICT has already launched three pilot nodes. He envisions a national network where every government agency acts as a node, making budget entries from the DBM instantly visible to the public and COA, preventing retroactive tampering.
Almirol is requesting a ₱500 million initial budget to launch the national framework. He noted this is a drop in the bucket compared to the billions the government will save by eliminating redundant biometric submissions and database duplications.
Hackathon Season Heats Up in SEA
Morph "Build In! Payments" Hackathon: Launched under the Blockchain4Youth banner, this sprint tasks developer teams with building functional Web3 cash apps tackling cross-border remittance, payroll, and SME payment gaps. The final onsite awarding ceremony will take place on June 4.
APAC Stellar Hackathon: Web3 education platform Rise In and the Stellar Development Foundation have launched an online hackathon with a massive $60,000 prize pool to build financial applications using Stellar's smart contract platform, Soroban, across the Philippines, Vietnam, and Indonesia.
GladiatorDex Drops Regional NFT Sale Ahead of July Launch
Filipino-led Web3 gaming app GladiatorDex held a preview event at the Clark Marriott Hotel in Pampanga. Ahead of its official July 27 game release, the team debuted its "Region NFT Sale," introducing its first decentralized governance participants ("Grand Dukes") to run the game's sustainable internal economy.
BitPinas Guide of the Week📚
Sometime in late 2023, when it was revealed that the Binance leadership in the Philippines left, we put together a timeline of Binance activities in the Philippines up to that point. We intend to update this next week given the recent developments. So for now, check out Binance history in PH up to 2023:
BitPinas Short Clips🎙️
Running in the past few days, we converted some of our news, interviews, and videos into short clips, available primarily on FB, YouTube, and Tiktok!
Happening Next Week
The AIBC Asia Summit (World) in Manila is happening from May 31 to June 3 at the SMX Convention Center. This major tech event converges with SiGMA Asia to bring together 16,000 delegates, hundreds of speakers, and global innovators focusing on AI, blockchain, Web3, and fintech in the Philippines.
One question ❓
What do you think of Binance’s long eventual return to the Philippines?
📊 Sentiment Snapshot
Platform / Event | Focus Area | Regulatory Status | Market Impact |
Binance x BlockShoals | Exchange Relaunch | 🟡 Approved Sandbox | High (Market Shakeup) |
Coins QRPh | BTC/ETH Retail Spend | 🟢 Fully Licensed | High (Mass Utility) |
Polymarket | Political Betting | 🔴 Banned by PAGCOR | Moderate (Telco Blocked) |
Riscoin / BG Wealth | Yield Schemes | 🔴 Cease & Desist | High (Investor Loss) |
Final words
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By Michael Mislos, Editor-in-Chief, BitPinas