MANILA, Philippines – BlockShoals Technologies Inc. said its planned partnership with a Bangko Sentral ng Pilipinas-accredited virtual asset service provider (VASP) is part of its Securities and Exchange Commission (SEC)-approved testing plan.
In a statement, BlockShoals director Marie Antonette Quiogue said they had always intended to work with a BSP-regulated VASP alongside crypto exchange Binance whenever required.
READ: SEC clarifies BlockShoals crypto participation
She noted that the arrangement was part of the SEC-approved Strategic Sandbox (StratBox) framework testing plan in November 2025.
The clarification came after the SEC said the 90-day integration period does not signal the start of public crypto trading or onboarding.
Instead, the regulator said the period is solely for the integration of technical infrastructure and systems between BlockShoals and a BSP-licensed VASP partner.
BlockShoals said they discussed matter with BSP and SEC representatives during a May 29 meeting.
The company informed regulators that it finalizing a deal with a BSP-accredited VASP, as required under its testing plan and Notice to Proceed.
“A VASP has been selected, and both parties are now completing the required due diligence,” Quiogue said.
She said the firm prioritizes a partner with strong investor safeguards, adding that will begin onboarding and integration once the deal is finalized.
The SEC’s StratBox framework allows BlockShoals to test trading activities and advanced crypto-asset products in a controlled regulatory environment.
READ: SEC allows homegrown fintech into sandbox
However, the SEC emphasized that future public participation remains subject to regulatory requirements and further approval.
Meanwhile, BlockShoals said it remains under SEC supervision during the testing period and welcomed the SEC-BSP regulatory coordination.
The company added that it remains committed to regulatory compliance and the protection of Filipino users as it proceeds with its sandbox testing program. /pai INQ