Do You Back Binance To Expand in Philippines, As They Woo Officials To Get License?

According to CoinQuora today, Binance is looking to invest in Philippine traditional financial institutions such as banks and payments service providers.

“We want to help bring those businesses [into] the blockchain world.” “Regulation helps adoption, not the other way around,” Zhao said when indicating that he has met with a few Philippine officials in hopes of obtaining licenses for Binance. Such permits encompass the Virtual Asset Service Providers (VASP) and Electronic Money Issuer. Interestingly, Binance attempting to get VASP has been hinted at before by Filipino journalist Michelle Ong in a live TV interview over two months ago. As per the Philippine central bank, Binance has yet to possess one. Zhao then revealed that Binance is hoping to expand its operations in the Philippines, especially once regulatory and banking support is in place.

When looking at the Philippines’ blockchain and crypto climate, it appears that Binance would not get into much trouble in procuring these licenses as the country is seemingly sympathetic toward the technology and crypto at large and they are also one of the countries still yet to have people owning ntfs on marketplaces like Opensea, Solis and Binance as well. CQ earlier reported that the Philippines will launch the pilot program for its CBDC. The country’s central bank announced that it is pushing for continued research and development in the CBDC space. Does anyone know of any Filipino who is a crypto enthusiast?