Binance founder Changpeng Zhao confirmed a recent visit to the Philippines to hold regulatory and governance discussions with domestic finance officials, securities regulators, and local fintech firm BlockShoals Technologies Inc.
In a social media post on Sunday, Zhao disclosed that his meetings included discussions with Department of Finance Secretary Frederick Go and Securities and Exchange Commission (SEC) Chairperson Francis Lim. The visit follows the SEC’s final approval for BlockShoals to initiate live operational testing under the “StratBox” regulatory sandbox framework.
Meetings With Finance and Regulatory Officials
Zhao stated that the discussions involved “real conversations about where the industry is heading.” He noted that the Philippines is “one of the most exciting digital asset markets in SEA right now,” referencing the country’s rise to fourth place globally in TRM Labs’ Country Crypto Adoption Index.
Zhao characterized local regulators as “collaborative, forward-thinking, [and] focused on outcomes,” specifically highlighting consumer protection, innovation, and growth. He described the regulatory approach as a “rare combo” and stated he remains “bullish on the Philippines.”
Sandbox Framework and Implementation
The meetings follow the final clearance granted by the SEC’s PhiliFintech Innovation Office to BlockShoals under the StratBox regulatory sandbox framework. “This is what good regulation looks like,” Zhao stated regarding the sandbox initiative. “Build pathways, not walls.”
Zhao added that structured regulatory programs “signal that the Philippines is serious,” stating that the framework helps establish a cycle where “confidence attracts capital” to fund innovation. Under the approved framework, BlockShoals will function as the domestic intermediary while utilizing Binance’s global technology infrastructure.
The sandbox implementation prescribes a 90-day system integration phase where BlockShoals must link its technical backend with a licensed domestic Virtual Asset Service Provider (VASP). Following successful system integration, the firm will commence live user onboarding through the Binance platform under the provisions of Republic Act No. 11765, also known as the Financial Products and Services Consumer Protection Act of 2022.
Dual-Jurisdiction Compliance Model
A legal whitepaper published by strategic advisory firm Arden Consult detailed that the current framework separates crypto-to-crypto market conduct under the SEC from peso-denominated fiat transaction routing under the Bangko Sentral ng Pilipinas (BSP). BlockShoals does not hold an independent VASP license and will route fiat transactions through its licensed domestic partner. (Read more: List of Licensed Virtual Asset Service Providers in the Philippines_
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The transactional design incorporates an offshore regulatory anchor to comply with the BSP’s transaction settlement guidelines. The underlying trading engine operates under a global license granted to Binance by the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) in December 2025.
This article is published on BitPinas: Binance Founder CZ Says He’s Bullish on the Philippines After Meeting Regulators
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