PLDT and Globe Telecom have both restored access to the platform, signaling a shift from the total ban imposed in 2024. The SEC had previously blocked the exchange for operating without local registration and ordered the removal of its mobile applications from digital storefronts. Under the new arrangement, BlockShoals acts as the local face of the exchange, while the underlying services are supplied by entities regulated in the Abu Dhabi Global Market.
Binance co-founder Changpeng Zhao confirmed the development on July 29, noting that fiat payment channels remain a work in progress. While the website is now reachable, full functionality is restricted to a 90-day integration phase. During this period, the company must complete systems connectivity and align with local anti-money laundering requirements before official peso deposits and withdrawals can resume. The current authorization is a testing permit rather than a permanent license, leaving the future availability of mobile apps dependent on further regulatory review.
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