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Binance Courts Philippine License, To Target Southeast Asia

Varinder Singh-Coingape
2022-06-08 07:58
The world’s largest crypto exchange Binance is currently seeking the Virtual Asset Service Provider (VASP) and Electronic Money Issuer (EMI) licenses in the Philippines. Binance CEO “CZ” met with Philippine officials to discuss regulatory and banking support for expansion in the country.
Binance is currently leading blockchain and crypto projects in Southeast Asia to increase crypto adoption in the region. Moreover, the company is investing in other crypto and web3 companies through its investment arm Binance Labs.

Binance Plans Entry into the Philippines Market

Binance CEO “CZ,” during a media briefing on June 8, said the company is seeking virtual asset service provider and electronic money issuer licenses in the Philippines. Moreover, he believes the expansion in the country is important for the company due to high crypto adoption.
Moreover, the crypto exchange hopes to get regulatory and banking support in the country to provide blockchain and crypto-related services in the country. He believes regulations promote crypto adoption as government, companies, and investors can better explore cryptocurrencies and other digital assets.
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