BIZ BUZZ: Crypto bros, rejoice!

Binance may return to the Philippine market through a partnership with local firm BlockShoals Technologies Inc., after the Securities and Exchange Commission (SEC) allowed the company to begin regulated testing under its Strategic Sandbox (StratBox) framework.

The SEC earlier issued a notice to proceed, allowing BlockShoals to officially start its testing as a crypto asset intermediary within the StratBox, according to the approved plan.

With the notice in place, Filipino users will be able to access Binance products and services within a controlled regulatory environment.

Biz Buzz learned BlockShoals will soon integrate its systems with its partner virtual asset service provider, described as one of the leading names in the local financial technology space.

“This partnership is an opportunity to demonstrate that global digital asset platforms and local regulatory frameworks can work together constructively. As a Philippine-incorporated company operating under the direct supervision of the SEC, we are focused on building a secure and locally accountable platform for Filipino users. We thank the Commission for the opportunity to participate in the StratBox and are committed to earning continued confidence through our performance,” BlockShoals officials said.

S.B. Seker, head of Asia Pacific at Binance, said: “The Philippines is one of the most dynamic digital economies in Southeast Asia, with a highly engaged and digitally native population that continues to drive adoption of emerging financial technologies. We believe frameworks like StratBox represent an important step in enabling responsible innovation by creating pathways for industry participants and regulators to work together constructively.” —Tina Arceo-Dumlao

Filipina doctor takes helm of ECCP

One of the Philippines’ largest foreign business chambers has elected its first female president.

Dr. Diana Edralin of Roche Philippines is the new president of the nearly 1,000-member European Chamber of Commerce of the Philippines (ECCP), succeeding Paulo Duarte of Bosch Philippines.

Also president of the Pharmaceutical and Healthcare Association of the Philippines Inc., Edralin is the first Filipina to lead the chamber. Before becoming ECCP vice president, she was also the lone woman among the chamber’s 11 directors.

Edralin will be joined by former ECCP president Lars Wittig, ACCIONA Southeast Asia managing director Ruben Camba and Republic Cement CEO Roman Menz as vice presidents.

During its annual general membership meeting on May 26, the ECCP also welcomed Camba and Liher Urbizu, president and managing director at SAP Southeast Asia, to its board of directors.

The leadership transition comes as the chamber described a period of “renewed momentum” in European-Philippine economic and trade relations, amid negotiations for a proposed European Union-Philippines free trade agreement.

Following the sixth round of negotiations held May 18-22, the chamber said it continued to advocate for the “swift, balanced and comprehensive conclusion” of the agreement.

“In this context of sustained growth and evolving priorities, the incoming Board will ensure the continuity and advancement of ECCP’s core initiatives,” the ECCP said. — Logan Kal-El M. Zapanta

24/7 hotline for gambling addicts

The Philippine Amusement and Gaming Corporation (Pagcor) has launched its first National Problem Gambling Helpline, a 24/7 hotline it said is intended to provide support to people experiencing gambling-related problems.

On Tuesday, the state gaming regulator launched the helpline in partnership with nonprofit Seagulls Flock Organization Inc.

The number to dial is 02-8248-9568.

“This National Problem Gambling Helpline that we are launching today reflects Pagcor’s commitment to ensure that the gaming industry remains productive, well-governed, humane and accountable,” Pagcor Chair and CEO Alejandro Tengco said.

Pagcor said a team of 12 para-counselors, whom it described as “well-trained and well-equipped,” will work in three shifts a day.

The group is tasked with providing immediate psychological support, crisis triage and rehabilitation referrals for both struggling players and their families. — Nyah Genelle C. De Leon