Dash eyes Philippines for crypto payments, begins regulatory talks

Dash has begun evaluating the Philippines as a possible destination for its crypto payments business, while placing regulatory compliance at the center of any potential expansion plans.

Daria Chernozub, global adoption lead at Dash Blockchain, told attendees at Philippine Blockchain Week 2026 that the project is studying the local market and has already started discussions with major industry participants. She said Dash has also prepared a legal opinion letter to support talks with regulators and financial sector stakeholders.

Chernozub said the project targets countries where consumers face expensive payment services and are willing to adopt new financial technologies.

“We believe that Dash brings the technology and the payment solutions for people who are suffering from high commissions [and] who need something easy to use,” Chernozub said during the event.

She said the Philippines fits that description because many consumers are open to exploring digital financial tools. However, she added that Dash has not made any launch commitments and is still conducting market assessments.

Compliance remains a priority

Chernozub said Dash intends to address legal and regulatory requirements before introducing any services in the country. She said the project has already opened communication channels with key market participants as part of that process.

The comments come as Philippine regulators continue tightening oversight of cryptocurrency businesses.

On June 17, the Bangko Sentral ng Pilipinas introduced new requirements for virtual asset service providers. The central bank directed licensed firms to conduct extensive reviews before listing digital assets and required continuous monitoring of tokens after approval.

The BSP also instructed VASPs to evaluate issuer information, market maturity, use cases, security measures, liquidity conditions, and legal compliance before offering assets to customers. Privacy-focused cryptocurrencies remain prohibited under the framework.

Crypto firms face licensing requirements

Recent regulatory actions have reinforced the BSP’s position that cryptocurrency companies must obtain the appropriate licenses before operating in the country.

Earlier this month, the BSP said neither Binance nor BlockShoals Technologies held a virtual asset service provider license despite BlockShoals participating in the Philippine Securities and Exchange Commission’s StratBox regulatory sandbox program.

The central bank said SEC sandbox participation does not replace BSP licensing requirements for crypto payment and transaction services. Regulators also required BlockShoals to connect with a licensed domestic VASP before Binance-backed user onboarding could proceed.

The Philippines has sought to attract foreign technology companies, but crypto firms continue to face licensing, compliance, and regulatory review processes beyond standard corporate registration requirements.

Dash has not announced a timeline for entering the market. Chernozub said the company will continue its assessment of the Philippines while engaging with regulators and industry participants.