During a recent media roundtable event hosted by Blockscholes, representatives from Binance, local regulatory advisory entity Arden Consult, BlockShoals Technologies, Inc., and the Securities and Exchange Commission (SEC) gathered to discuss Binance’s strategy for the Philippine market, regulatory compliance, and investor protection.
Here are the key insights and direct perspectives shared by each panelist during the discussion:
SB Seker – APAC Head of Binance
SB Seker highlighted why the Philippines stands out as a high-priority market within Binance’s broader Asia-Pacific (APAC) strategy, citing strong regulatory clarity, massive digital transaction volumes, and strategic local partnerships.
“The Philippines is one of the most critical markets for us in APAC for a number of reasons… Without legal and regulatory clarity, it’s very hard to build ecosystems. That regulatory clarity drives a lot of adoption, both institutional and retail.”
“When you look at digital finance adoption, it’s something about $36 billion a year in remittances and $136 billion a month in digital finance transactions, of which more than 50% of all financial transactions are now digital payment transactions in the Philippines.”
“It is not in every market that we have the privilege to have regulatory certainty and stability, and very strong local partnerships.”
“When it comes to choosing a platform… as a user, you don’t trust; you verify.”
Jen Bilango – General Manager of Binance Philippines
Jen Bilango elaborated on how Binance adapts its global framework to fit local needs, emphasizing tailored onboarding processes, local compliance investment, and user protection throughout the customer journey.
“While we are global in our approach and reach, in order for us to grow in any market, we need to be local in our approach and be intentional… Global experience, locally adapted.”
“Localization must also extend to user experience. This includes appropriate arrangements for customer onboarding, PHP deposits, and withdrawals.”
“At Binance, we invest heavily in our compliance programs. Every year, we spend about $300 million to ensure we have a proper compliance framework, and 1 in 4 headcounts is actually a compliance-related function.”
“Accessibility of crypto products and services is something that Filipino users must truly understand before they are onboarded… Education is an important aspect.”
Atty. Marie Antonnete “Tonet” B. Quioque – CEO & Founder of Arden Consult / Legal Advisor to BlockShoals Technologies, Inc.
Atty. Tonet Quioque detailed the collaboration with local regulatory bodies and how localized governance safeguards Filipino consumers while allowing access to global financial tools.
“It took us and the teams working with the SEC two years of collaboration to get to where we are… Our goal working with the SEC is ensuring that Filipinos feel they have the proper consumer protection provisions and guardrails in place.”
“It’s as if you have access to a global product, but you have the protection of your local regulator and a local entity you can go to in case there are any issues.”
“Filipinos can trust a Philippine entity and local operations to ensure everything is in compliance with local regulations… This is a good day for the Philippines.”
Atty. Paolo Ong – Assistant Director of SEC PhiliFinTech Innovation Office (PhiliFINNO)
Atty. Paolo Ong explained the SEC’s approach to balancing fintech innovation with consumer safeguards, outlining the rationale behind the regulatory sandbox framework and the Financial Consumer Protection Act.
“We instituted the regulatory sandbox framework because we’ve been meeting with entrepreneurs and fintech businesses that want to enter the Philippine market, but current policies didn’t allow that in their current state.”
“The sandbox is a regulatory tool wherein a new business model or fintech product can be offered in the Philippine market in a controlled environment… without stifling innovation while making sure regulatory objectives are met.”
“Under the Financial Consumer Protection Act, financial regulators have the power to create rules based on law and global best practices, empowering investors to own their investment decisions.”
“The driver of the crypto market developing in the Philippines is demand… The job of the SEC is to facilitate and encourage the development of more digital investment products.”
The media roundtable underscored a shared commitment among industry leaders and regulators to establish a transparent, compliant, and user-centric crypto environment in the Philippines. Through structured regulatory sandboxes and strong local integration, the initiative aims to bridge global exchange liquidity with robust local consumer protection.