Binance Co-CEO Yi He announced that Binance has officially entered the Philippine market. The Philippine Securities and Exchange Commission (SEC) has granted approval to Blockshoals Technologies Inc. to test its financial products and services within the Commission's regulatory sandbox.

As part of this initiative, Blockshoals will integrate its systems with its global crypto-asset service provider (CASP) partner, Binance, over a 90-day period. Upon successful integration and subject to regulatory oversight, Blockshoals will implement its approved testing plan, enabling Philippine users to onboard and access services through Binance.