Get a SEC CASP crypto license in the Philippines.

Registration as a crypto-asset service provider with the SEC under Memorandum Circulars 04 and 05, series of 2025, covering exchanges, wallets, custody and even marketing of crypto services. Exchange between crypto and fiat, transfers and custody also sit in the BSP's VASP perimeter under Circular 1108; crypto-to-crypto exchange is in the Circular's definition too, though in July 2026 the BSP said that trading-venue crypto-to-crypto exchange fits under the SEC.

PHP 100 million minimum paid-up capital excluding crypto holdings, a physical Philippine office, fit-and-proper officers, conduct and custody standards per the guidelines, a PHP 50,000 filing fee and annual supervision fees based on revenue.

Two perimeters that overlap: the SEC governs industry registration and conduct; the BSP licenses exchange, transfer and custody as VASP activities under Circular 1108. Every model starts with the CASP registration; a model that converts crypto to fiat, transfers or holds client crypto needs a BSP-side answer too, while crypto-to-crypto trading venues are being pointed to the SEC: the BSP said so in July 2026 and plans amendments to Circular 1108.

Not at present. The BSP has kept a moratorium on new VASP licences since 1 September 2022 and in August 2025 continued it from 1 September 2025 with no end date, subject to reassessment. Entry runs through acquisitions of existing licensees or partnerships with licensed VASPs, banks and EMIs. We scope which route is realistic for your model before capital moves.

The desk is young - rules date from May 2025, so practice is forming; we plan 6-10 months for complete files, with early applicants shaping precedent.

A Philippine corporation structured within foreign-equity rules, a real local office, reachable management, PHP 100M evidenced capital and systems the SEC can review.

Ordinary CREATE-era rates: 25% corporate income tax (the 20% rate for smaller corporations needs total assets of PHP 100M or less, so a CASP pays 25% in practice), 12% VAT on fees and services by general principles, and no dedicated crypto levy.

Because adoption already ranks in the global top 10: remittance corridors worth tens of billions, a young English-speaking population transacting mobile-first, and a licensed field made thin by the very capital bar you clear. The demand is proven; the competition is filtered.

The SEC publishes advisories and moves to block unregistered foreign platforms - enforcement arrived together with the rules, which is what gives the registration its value.

Singapore is a headquarters play with selective licensing; Thailand rewards its domestic perimeter. The Philippines is the demand play - a global top-10 crypto-adopting population, a new rulebook, and a field still thin. Groups building for Southeast Asian users start where the users are.