Binance, one of the biggest cryptocurrency exchanges in the world, has expressed its interest in partnering with Philippine Banks and seeking gov’t licenses to help it operate more efficiently in the country. This was the main message delivered by Binance founder and CEO Changpeng Zhao as he visited the country yesterday and met with members of the press.
“The Philippines is more advanced in terms of payment services, mobile penetration, smartphone adoption, tech talents, and understanding of crypto. All those fronts, the Philippines is ahead,” Zhao said.
To accomplish its goals in the country, Binance is looking to work with both regulators and banks and is looking to meet with government agencies to nab two important licenses: Virtual Asset Service Providers (VASP) and Electronic Money Issuer (EMI).
“Regulation helps adoption, not the other way around,” Zhao said, as he stressed the need to work with government entities to accelerate cryptocurrency adoption worldwide.
“We would love to be able to provide more localized services by going into licensing and working closely with regulators here,” he added.
Aside from working with Philippine banks and regulators, Binance is also looking to educate end-users via Binance Academy and Binance Masterclass courses.
Binance Academy features online courses on blockchain and cryptocurrency, and Binance Masterclass goes into detail about blockchain development. CZ says Binance has taught over 600,000 people in their Masterclass program, and the program is available, for free, online. You can check out the program here.