List of Licensed Cryptocurrency Exchanges in the Philippines

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The Philippines, a global leader in remittance inflows and digital financial adoption, has become a strategic hub for licensed cryptocurrency exchanges. With a tech-savvy population and rising demand for accessible financial tools, the country has welcomed Virtual Asset Service Providers (VASPs) under the regulatory oversight of the Bangko Sentral ng Pilipinas (BSP).

These regulated platforms are transforming how Filipinos interact with digital assets—enabling seamless crypto-to-fiat transactions, remittances, and investment opportunities. As of January 2025, only a select group of VASPs remain active, reflecting both the growth and challenges within this evolving ecosystem.

This comprehensive guide explores the current landscape of regulated crypto exchanges in the Philippines, highlighting key players, regulatory developments, and what it means for users seeking secure and compliant platforms.

Understanding the Regulatory Landscape

The BSP governs all cryptocurrency-related financial services through its Virtual Asset Service Provider (VASP) licensing framework. Since 2017, companies must obtain formal approval to offer crypto trading, exchange, or wallet services.

In August 2022, the BSP imposed a three-year moratorium on new VASP applications to evaluate risks, enhance compliance standards, and strengthen consumer protection. This pause has made existing licenses more valuable and underscored the importance of transparency in operations.

While the BSP remains the primary regulator, the Securities and Exchange Commission (SEC) is also developing additional rules for crypto asset service providers, signaling a coordinated effort to refine oversight across sectors.

👉 Discover how global crypto regulations compare and what it means for Philippine users.

Active Non-Bank Licensed Crypto Exchanges

These non-bank VASPs have maintained compliance and operational status as of early 2025, offering diverse services from trading to remittances.

Coins.ph (Betur Inc.)

Coins.ph stands as one of the most recognized names in Philippine fintech. Licensed in September 2017, it was among the first platforms to integrate cryptocurrency into everyday finance. Today, Coins.ph supports trading in Bitcoin, Ethereum, XRP, and Bitcoin Cash, alongside bill payments, mobile load, and peer-to-peer transfers.

In 2024, the platform celebrated its 10th anniversary with record-breaking volumes on its TradeDesk feature—highlighting sustained user trust and market leadership. Its intuitive interface makes it ideal for both beginners and experienced traders.

Bloomsolutions, Inc.

Operating under BloomX, Bloomsolutions specializes in blockchain-powered remittance solutions. Since securing its VASP license in May 2018, the company has enabled over-the-counter crypto purchases and sales across thousands of partner outlets.

With support for more than 250 cryptocurrencies, including major assets like Bitcoin and Litecoin, BloomX bridges traditional cash-based economies with digital finance—particularly beneficial in rural and underserved communities.

Direct Agent 5 (DA5)

DA5 operates SurgePay, a hybrid digital wallet launched in 2023 after receiving its VASP license. The platform combines cryptocurrency trading with essential financial services such as remittances, bill payments, and e-commerce transactions.

SurgePay supports trading in Bitcoin and Ethereum, emphasizing accessibility and security. As one of the newest entrants among active VASPs, DA5 demonstrates how integrated financial ecosystems can thrive under strict regulatory compliance.

Maya Philippines, Inc.

Formerly PayMaya, Maya has evolved into a full-service digital bank with embedded crypto capabilities. Licensed in December 2021, Maya allows users to buy and sell digital assets while also offering micro-investments and savings products.

Its seamless integration within the broader Maya app—used by millions for daily transactions—positions it as a leader in mainstream crypto adoption. The platform’s focus on user experience ensures that crypto remains approachable for average consumers.

Moneybees Forex Corp.

Moneybees offers over-the-counter (OTC) cryptocurrency services through a network of physical outlets and an online trading desk. Licensed in Q1 2020, it enables direct buying and selling of Bitcoin, Ethereum, and USDT using Philippine pesos.

This hybrid model reduces barriers for users unfamiliar with digital wallets or apps, making Moneybees a critical link between traditional finance and digital assets—especially in areas with limited internet access.

Philippine Digital Asset Exchange (PDAX)

PDAX is one of the most prominent crypto exchanges in the country, licensed in September 2018. It supports trading in over 70 cryptocurrencies—including Bitcoin, Ethereum, and XRP—using local currency.

Notably, PDAX powers GCrypto, the crypto arm of GCash—one of the nation’s most popular e-wallets. In 2022, it launched PDAX Prime, offering institutional-grade features and exclusive tokens to advanced traders.

TopJuan Technologies Corporation

TopJuan provides B2B and B2C financial solutions via its TopWallet platform. While less public-facing than others, its hybrid wallet system supports crypto trading and compliance-focused financial services.

With an emphasis on regulatory adherence and innovation, TopJuan continues expanding its footprint—particularly in enterprise-level fintech integrations.

XenRemit, Inc.

A member of the Xendit Group, XenRemit leverages robust payment infrastructure to deliver cryptocurrency trading alongside remittance and bill payment services. It joined the list of licensed VASPs on January 31, 2023.

Its integration with Xendit’s API-driven platform makes it a powerful tool for businesses needing multi-currency transaction capabilities—including crypto settlements.

Active Bank-Based VASPs

Traditional banks are increasingly entering the digital asset space, bringing credibility and institutional strength.

GoTyme Bank Corporation

GoTyme Bank, a digital bank backed by the Gokongwei Group and Singapore’s Tyme Group, received its VASP license in late 2024. It now offers USD-denominated deposits and cryptocurrency trading options—blending conventional banking with modern fintech innovations.

As one of the first neobanks to enter the VASP space, GoTyme signals a shift toward broader financial inclusion through regulated digital assets.

Union Bank of the Philippines

UnionBank holds the distinction of being the first local universal bank to receive a VASP license. A pioneer in blockchain experimentation—including cross-border payment pilots—it continues to lead in integrating crypto services into traditional banking frameworks.

Its long-term vision includes enabling seamless asset transfers between fiat and digital forms—a crucial step toward full financial digitization.

Inactive or Non-Operational VASPs

Despite initial promise, some platforms have ceased operations due to regulatory non-compliance, financial strain, or strategic shifts.

These closures highlight the challenges smaller players face: maintaining compliance, securing funding, and scaling sustainably in a tightly regulated environment.

👉 Learn how to evaluate the reliability of any crypto platform before investing.

The Future of Regulated Crypto Exchanges in the Philippines

The Philippine crypto market is poised for transformation. With half of all payments now digital and remittance flows exceeding $35 billion annually, there’s strong momentum for further innovation.

However, key hurdles remain:

As the moratorium on new licenses continues through 2025, existing players have a unique opportunity to refine their offerings and build public trust.

👉 Stay ahead of market trends with real-time insights from a leading crypto platform.

Frequently Asked Questions (FAQ)

Q: What are the regulated crypto exchanges in the Philippines?
A: Regulated crypto exchanges are licensed as Virtual Asset Service Providers (VASPs) by the Bangko Sentral ng Pilipinas (BSP). Active platforms include Coins.ph, PDAX, Maya, UnionBank, and others listed above. Always verify a platform’s status directly through official BSP sources.

Q: Is cryptocurrency trading legal in the Philippines?
A: Yes. Under BSP Circular No. 1108, cryptocurrencies are recognized as virtual assets. Trading is legal when conducted through BSP-registered VASPs. The SEC is also finalizing additional rules that may expand oversight.

Q: How can I check if a crypto exchange is licensed?
A: Visit the BSP’s official website for updated lists of registered VASPs. You can also review the exchange’s website for licensing disclosures or contact BSP/SEC directly for confirmation.

Q: What are the benefits of using licensed exchanges?
A: Licensed platforms offer enhanced security, regulatory compliance (including anti-money laundering measures), dispute resolution mechanisms, and greater transparency—protecting both users and investors.

Q: Why did some VASPs shut down?
A: Many inactive providers struggled with compliance costs, lack of funding, or failure to scale operations. The regulatory environment demands robust infrastructure and continuous reporting—challenging for smaller firms.

Q: Will more exchanges be licensed after 2025?
A: After the three-year moratorium ends in 2025, the BSP may reopen applications under stricter criteria. Future approvals will likely prioritize financial stability, cybersecurity readiness, and consumer safeguards.

Final Thoughts

The list of licensed cryptocurrency exchanges in the Philippines reflects a maturing market where innovation meets regulation. While barriers to entry are high, they ensure that only resilient, compliant platforms serve Filipino users.

For individuals seeking secure access to digital assets, choosing a BSP-licensed VASP is essential. As regulations evolve and technology advances, the Philippines is well-positioned to become a regional leader in responsible blockchain adoption.

By focusing on trust, transparency, and inclusion, these regulated platforms are not just facilitating trades—they’re reshaping the future of finance.