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October 02, 2023

Binance unveils plan to acquire firm to secure license in PH

The cryptocurrency exchange platform announced its plan to secure regulatory licenses to fully operate in the country.

Binance announced that the firm is on the late stage of its plan to purchase a local company to acquire regulatory licenses in the country.

Bankero Kenneth Stern of Binance general manager for the Philippines, said they were at the late stage talks to buy a local company operating as a virtual asset services provider (VASP) and electronic money issuers.

The move is in lie with the regulatory requirement of the Bangko Sentral to secure a VASP license, imposed on all institutions involved on digital asset related operations in the country.

It may be recalled that BSP said it will not be accepting new VASP applications for a period of three years starting September.


PNB recognized during SSS’s 66th anniversary celebration

Philippine National Bank (PNB) has received two prestigious awards from the Social Security System (SSS) during the “Balikat ng Bayan” Awards (BBA) 2023 for their adherence to SSS requirements and their commitment to enhancing services for Filipino workers both in the country and abroad.

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