The SEC says tokenized real estate, U.S. equity products qualify under existing law. Central bank tightens listing rules as Binance and BlockShoals lack VASP licenses.
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The Philippine Securities and Exchange Commission is expanding its tokenization oversight, with four companies now testing inside the agency's regulatory sandbox. One of them is working on a tokenized real estate product.
SEC Commissioner Rogelio Quevedo told Philippine Blockchain Week 2026 that existing securities laws can accommodate tokenized assets. The agency is comfortable overseeing those products within the country's current legal structure, he said.
"Asset tokenization could encourage financial innovation while creating new opportunities for investors and market participants," Quevedo said.
The sandbox, called StratBox, lets fintech firms test products under direct SEC supervision. The agency can temporarily modify or waive certain rules for individual participants during the testing period. Sandbox admission does not exempt companies from existing laws, the SEC stressed.
One of the four admitted companies is testing a tokenized real estate offering. Two others are evaluating products that give access to U.S. equities. BlockShoals Technologies received in-principle approval to test crypto-related services inside the sandbox.
Quevedo made a separate case for tokenized investment products aimed at overseas Filipino workers. Many of those workers have capital but struggle to find legitimate savings vehicles and are vulnerable to scams, he said. The SEC is now using artificial intelligence tools to identify investment fraud and working with Google and TikTok to remove illegal offerings targeting Filipino investors.
Central bank rules are tightening in parallel. The Bangko Sentral ng Pilipinas introduced stricter due-diligence requirements for virtual asset service providers that want to list cryptocurrencies. Exchanges must evaluate each digital asset's issuer background, market maturity, use cases, transparency, liquidity, and legal compliance before listing, the BSP said.
Neither Binance nor BlockShoals currently holds a VASP license, the BSP said in statements reported by BitPinas. A VASP license is required to offer crypto payment and transaction services in the Philippines.
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