Philippines Now Has 10 Approved Cryptocurrency Exchanges


The Philippines is catching up to Japan with a growing number of approved cryptocurrency exchanges. The central bank has green-lighted 10 crypto exchanges so far. Meanwhile, one of the country’s largest banks now has a bitcoin ATM at one of its main branches. In addition, the Cagayan Economic Zone Authority has independently licensed 24 crypto exchanges.

Also read: Indian Supreme Court Postpones Crypto Case at Government’s Request

10 Legal Crypto Exchanges

The Bangko Sentral ng Pilipinas (BSP) has approved 10 cryptocurrency exchanges in total, according to the most recent list provided by the central bank. Three of them were recently added, the Manila Times reported Monday.

Melchor T. Plabasan, the officer in charge at the Technology Risk and Innovation Supervision Department of the central bank, said the latest crypto exchange operators authorized were Bexpress Inc., Coinvillel Phils Inc., and Aba Global Philippines Inc.

The most recent list of remittance and transfer companies with money changing or foreign exchange dealing as well as virtual currency exchange service provided by the central bank comprises 10 businesses. Besides the three new additions, the seven others are Betur Inc. dba, Remittance Inc., Bloomsolutions Inc., Virtual Currency Philippines Inc., Etranss Remittance International Corp.,