Binance is widening its footprint across Asia as its European licensing plans stay unsettled. Co-CEO Richard Teng told the Reuters NEXT Asia conference in Singapore on July 9, 2026, that the exchange now operates in Japan, South Korea, Thailand, Indonesia, and Australia, with the Philippines the newest addition and more approvals still to come. The comments arrive as Binance works to reassure users of its regulatory footing after pulling its Markets in Crypto-Assets Regulation (MiCA) application in Greece.
What Happened
Speaking in Singapore, Teng listed the exchange’s current Asia-Pacific footprint and confirmed the Philippines as Binance’s newest market, reentered through a partnership with local fintech BlockShoals Technologies, according to Cointelegraph. Of the jurisdictions still under review, he said only that “a few more are coming,” declining to name them.
The Philippines return carries a catch. Binance and BlockShoals came back into the market in 2026 after the Philippine Securities and Exchange Commission cleared BlockShoals to run inside its regulatory sandbox. But according to CoinDesk, the Bangko Sentral ng Pilipinas confirmed in June 2026 that neither company holds the Virtual Asset Service Provider license needed to move pesos. Binance can offer crypto trading under SEC rules, but peso transfers stay off limits for now.
Teng’s Asia remarks came in the same appearance where he addressed Binance’s EU retreat. The exchange withdrew its Greek MiCA application on June 24, 2026, a delay he called unexpected, and said 70% of EU users who pulled funds afterward moved them to self-hosted wallets rather than MiCA-licensed platforms.
What This Means for Traders in the Region
For traders across Southeast Asia, the Philippines case is a live test of how Binance’s Asia expansion works in practice, not just where the exchange has a foothold. It is also the latest move in Binance reshaping its global footprint, following its recent relocation of staff to the UAE. Readers can track each market’s status on our crypto news hub as approvals are confirmed.
The Approvals Teng Wouldn’t Name Yet
Teng did not identify which jurisdictions are next, only that regulators in both Europe and Asia have invited Binance to apply. Whether any of those talks produce a confirmed license before Binance’s next public update is the detail worth watching, since it would mark the exchange’s first new regulatory win since the Greek withdrawal.
What This Means for You
A license lets Binance operate legally in a country, but it does not automatically cover every service on that platform. In the Philippines, trading is allowed under SEC rules, while moving pesos in or out is not, since that falls under the central bank rather than the securities regulator. Anyone holding funds on Binance in a market going through this kind of transition should check which specific services are licensed there, not just whether the exchange has a foothold at all.
This article is for informational purposes only and does not constitute financial advice. Do your own research before making any investment decisions.
