Zhao Cites Philippines as Southeast Asia's Most Promising Digital Asset Market

Binance founder Changpeng Zhao has expressed optimism about the Philippines' digital asset market, calling it one of Southeast Asia's most promising. He praised the country's growing cryptocurrency adoption and its regulators for their collaborative approach.

In a post on X after returning from the Philippines, Zhao said the country has climbed to fourth place globally in TRM Labs' Country Crypto Adoption Index. This reflects the increasing use of digital assets among Filipinos.

Zhao met with officials from the Department of Finance and the Securities and Exchange Commission (SEC), including secretary Frederick Go and SEC chairman Francis Lim, during his visit. Discussions centered on the future direction of the digital asset industry and the country's regulatory framework.

The SEC's in-principle approval for BlockShoals under its StratBox regulatory sandbox through the PhiliFintech Innovation Office was also highlighted by Zhao. He said this demonstrates the Philippines' commitment to fostering innovation, adding that programs like StratBox build pathways for growth rather than erecting barriers.