Yes: buying, holding and selling crypto is legal through the 8 providers the BSP has licensed, including GoTyme Bank and UnionBank. Platforms the SEC has named, such as Bybit, MEXC, OKX and Binance, are not licensed.
InstaPay cash-out fee, lowest first: Coins.ph ₱5 per transfer, PDAX ₱15 per transfer
BSP list of VASPs, dated 15 July 2026; BSP Verifier, record updated 21 July 2026; SEC advisories posted to 28 September 2026; Coins.ph help centre, as listed on 2 October 2026; PDAX fee page, as listed on 2 October 2026.
Betur Inc.
Skip it if you cash out more than ₱50,000 at a time to GCash or Maya: InstaPay caps each cash-out at ₱50,000, so bigger sums go by PESONet to a bank.
Maya Philippines, Inc.
Skip it if you need to move coins to another wallet: Maya said on 19 December 2025 that Send and Receive were unavailable.
Moneybees Forex Corp.
Skip it if you want to keep and trade coins inside an app: Moneybees sends the coins you buy to your own wallet, and its posted rates are valid for 15 minutes.
Philippine Digital Asset Exchange (PDAX)
Skip it if you fund from an e-wallet often: PDAX lists a 3% plus ₱15 cash-in fee from Maya and 1.80% from GrabPay, against free cash-in from UnionBank or Sterling Bank.
TopJuan Technologies Corporation
GoTyme Bank Corporation
Skip it if you want to hold coins in your own wallet or send them elsewhere: Go Crypto has no external wallets or transfers, and every trade goes through US dollars.
Union Bank of the Philippines, Inc.
Skip it if you want to move crypto in or out: UnionBank’s terms cover buying and selling for pesos only.
WIBS PHP, Inc.
Skip it if you use an iPhone: the DOPAY app is on Android only, in early access.
This page covers whether crypto is legal, who is licensed, and how cash-out works and costs. For a problem with a transaction, go to the provider first, then the BSP; to report an unregistered platform, the SEC at epd@sec.gov.ph; for tax on gains, the BIR or a tax adviser.
Yes, through licensed providers. Buying, holding and selling crypto is allowed. What the rules control is who may offer it to you.
The SEC says its CASP Rules, in force since 5 July 2025, do not prohibit cryptocurrency trading or investment. They require platforms, local or foreign, to register and get the right licences before offering crypto services to people in the Philippines. SEC advisory, Clarifying the Enforcement of the CASP Rules, 14 Aug 2025
These are the providers on the BSP list, record updated 21 July 2026. The licence covers the company; it does not protect you from price swings.
| Provider | Trading fee | Cash out | Send crypto out | Skip it if |
|---|---|---|---|---|
| Coins.phNon-bank VASPOfficial site | Convert: no fee, spread applies. Spot: 0.1% maker / 0.15% taker at Tier 0 Coins.ph fee schedule, as listed on 2 October 2026 | InstaPay, ₱5 flat, ₱1 to ₱50,000 per cash-out Coins.ph help centre, as listed on 2 October 2026 | Yes; network fee varies by token and network. Receiving is free Coins.ph help centre, as listed on 2 October 2026 | you cash out more than ₱50,000 at a time to GCash or Maya: InstaPay caps each cash-out at ₱50,000, so bigger sums go by PESONet to a bank Coins.ph help centre, as listed on 2 October 2026 |
| Maya CryptoNon-bank VASPOfficial site | No transaction fee; Maya earns a margin on the price (percentage not published) Maya Crypto terms, as listed on 2 October 2026 | Sells straight to your Maya Wallet, real time or up to 2 business days Maya Crypto terms, as listed on 2 October 2026 | Unavailable since Maya refreshed the feature (help centre, 19 Dec 2025) Maya help centre, posted 19 December 2025 | you need to move coins to another wallet: Maya said on 19 December 2025 that Send and Receive were unavailable Maya help centre, posted 19 December 2025 |
| MoneybeesNon-bank VASPOfficial site | No transaction fee; a margin is built into the posted rate Moneybees terms, updated 27 August 2026 | Pesos to your bank account, or cash at a partner outlet Moneybees site, as listed on 2 October 2026 | Coins you buy are sent to the wallet you choose Moneybees site, as listed on 2 October 2026 | you want to keep and trade coins inside an app: Moneybees sends the coins you buy to your own wallet, and its posted rates are valid for 15 minutes Moneybees site, as listed on 2 October 2026 |
| PDAXNon-bank VASPOfficial site | No trading fee row on PDAX's fee page PDAX fee page, as listed on 2 October 2026 | InstaPay, ₱15, real time, up to ₱50,000; Maya must be a verified account PDAX fee page, as listed on 2 October 2026 | Yes; fee not fixed, shown before you confirm. Basic accounts cannot withdraw crypto PDAX help centre, as listed on 2 October 2026 | you fund from an e-wallet often: PDAX lists a 3% plus ₱15 cash-in fee from Maya and 1.80% from GrabPay, against free cash-in from UnionBank or Sterling Bank PDAX help centre, as listed on 2 October 2026 |
| TopJuan TechnologiesNon-bank VASP | No provider website | No provider website | No provider website | No provider website |
| GoTyme Go CryptoBank VASPOfficial site | Shown in the app before each order; no amount published GoTyme account terms, as listed on 2 October 2026 | To your GoTyme everyday account, converted from US dollars to pesos, in 1 to 2 days GoTyme help centre, as listed on 2 October 2026 | Not offered: no external wallets or transfers GoTyme crypto page, as listed on 2 October 2026 | you want to hold coins in your own wallet or send them elsewhere: Go Crypto has no external wallets or transfers, and every trade goes through US dollars GoTyme crypto page, as listed on 2 October 2026 |
| UnionBankBank VASPOfficial site | A spread added to the market price (illustrated as ₱3,030 on a ₱1,000,000 BTC price: ₱3,030 ÷ ₱1,000,000 = 0.30%) UnionBank virtual asset terms, as listed on 2 October 2026 | Sell for pesos inside UnionBank Online UnionBank virtual asset terms, as listed on 2 October 2026 | No send or receive function in the terms UnionBank virtual asset terms, as listed on 2 October 2026 | you want to move crypto in or out: UnionBank’s terms cover buying and selling for pesos only UnionBank virtual asset terms, as listed on 2 October 2026 |
| WIBS PHPNon-bank VASPOfficial site | Not on WIBS PHP's fee page WIBS PHP site, as listed on 2 October 2026 | Not on WIBS PHP's pages WIBS PHP site, as listed on 2 October 2026 | Not on WIBS PHP's pages WIBS PHP site, as listed on 2 October 2026 | you use an iPhone: the DOPAY app is on Android only, in early access WIBS PHP site, as listed on 2 October 2026 |
To turn crypto into pesos, sell it on a BSP-licensed provider and withdraw the pesos. These are the steps, fees and limits each provider publishes on its own help pages, as listed on 2 October 2026.
Cheapest published cash-out: 2 licensed exchanges publish an InstaPay cash-out fee to GCash, Maya or a bank: Coins.ph ₱5 and PDAX ₱15 per transfer. Worked out: 4 cash-outs × ₱5 = ₱20 at Coins.ph; 4 × ₱15 = ₱60 at PDAX; difference ₱40 a month. Fees per the Coins.ph help centre and PDAX fee page, as listed on 2 October 2026.
Before you start: A Coins.ph account with ID and selfie verification; how much you can cash out depends on your verification level. Coins.ph help centre, as listed on 2 October 2026
How you know it worked: InstaPay is the channel Coins.ph lists for fast, immediate transfers to GCash, Maya and banks, so the pesos should show in that balance right after you confirm. Coins.ph help centre, as listed on 2 October 2026 If it has not arrived by then: raise it with Coins.ph's support first; every financial service provider must run a free complaints desk, and you can take it to the BSP after that (RA 11765 sec. 8(f)).
Before you start: An upgraded Maya account. Maya Crypto terms, as listed on 2 October 2026
How you know it worked: The pesos show in your Maya Wallet in real time or up to 2 business days after the sale. Maya Crypto terms, as listed on 2 October 2026 If it has not arrived by then: raise it with Maya Crypto's support first; every financial service provider must run a free complaints desk, and you can take it to the BSP after that (RA 11765 sec. 8(f)).
Before you start: A verified Moneybees account; your daily limit depends on your verification level. Moneybees site, as listed on 2 October 2026
Before you start: A Verified PDAX account or higher; Basic accounts cannot withdraw crypto. PDAX help centre, as listed on 2 October 2026 For Maya, a verified or upgraded Maya account; PDAX stopped supporting basic Maya accounts on 23 April 2021. PDAX help centre, as listed on 2 October 2026
How you know it worked: An InstaPay cash-out is real time; a PESONet cash-out arrives in 1 to 3 banking days. PDAX fee page, as listed on 2 October 2026 If it has not arrived by then: raise it with PDAX's support first; every financial service provider must run a free complaints desk, and you can take it to the BSP after that (RA 11765 sec. 8(f)).
Before you start: Age 18 or older, with the GoTyme risk-profile questions completed. GoTyme account terms, as listed on 2 October 2026
How you know it worked: The pesos reach your everyday account 1 to 2 days after you move the proceeds. GoTyme help centre, as listed on 2 October 2026 If it has not arrived by then: raise it with GoTyme Go Crypto's support first; every financial service provider must run a free complaints desk, and you can take it to the BSP after that (RA 11765 sec. 8(f)).
For crypto still on Binance, the SEC urged users on 23 April 2024 to close their positions and move their crypto to their own wallets or to a provider registered in the Philippines (SEC press release). The GCash and Maya transfer fees for the pesos themselves are on the GCash and Maya fee pages.
Each app's crypto feature runs on a BSP-licensed VASP, as the app's own pages state:
| App | Runs on |
|---|---|
| GCashGCrypto | PDAXSells to the GCrypto Trading Wallet, then your GCash Wallet GCash help centre, as listed on 2 October 2026 |
| MayaMaya Crypto | Maya Philippines, Inc.Sells to your Maya Wallet Maya Crypto terms, as listed on 2 October 2026 |
| GoTyme BankGo Crypto | GoTyme BankSells to your GoTyme everyday account, in 1 to 2 days GoTyme crypto page, as listed on 2 October 2026 |
| UnionBank OnlineBuy and sell crypto | UnionBank UnionBank virtual asset terms, as listed on 2 October 2026 |
The SEC named OKX, Bybit, MEXC, KuCoin, Bitget, Phemex, CoinEx, BitMart, Poloniex and Kraken as platforms that are accessible in the Philippines without SEC registration or a CASP licence, and said the list is not exhaustive. It said its enforcement may include cease and desist orders and requests to block websites and apps. SEC investor alert dated 1 August 2025, posted 4 August 2025
Binance, as of 2 October 2026: Binance is not open to Philippine users yet. On 29 May 2026 the SEC approved BlockShoals Technologies, a Philippine company in its sandbox, to test crypto services with Binance as its global partner. On 11 June 2026 the SEC said the first 90 days are technical set-up only, not public onboarding or trading, and that public onboarding needs further SEC approval. As of 2 October 2026 the SEC has not announced it. Binance in the Philippines.
The SEC has named 28 crypto platforms and 51 crypto investment schemes in its advisories. See every platform or the crypto schemes.
Profit from crypto is taxable income in the Philippines. How the BIR treats it, which rates apply and what to keep for your records are on crypto tax in the Philippines. To estimate the tax, use the income tax calculator; if you are paid in crypto as a freelancer, see tax for freelancers.
Yes. The BSP licenses companies to exchange and hold crypto (8 are licensed, BSP Verifier record updated 21 July 2026), and the SEC says its CASP Rules (SEC MC No. 4, s. 2025, in force since 5 July 2025) do not prohibit crypto trading or investment; they require platforms to register first (SEC advisory, 14 August 2025).
Start with the 8 BSP-licensed providers, since only they can legally exchange crypto and pesos here. Of the ones that publish an InstaPay cash-out fee, Coins.ph charges ₱5 and PDAX charges ₱15 per transfer (fee pages as listed on 2 October 2026).
Sell it for pesos on a BSP-licensed provider, then withdraw the pesos to your bank or e-wallet. For example, Coins.ph charges ₱5 per InstaPay cash-out (Coins.ph help centre, as listed on 2 October 2026).
In GCash, sell in GCrypto: the pesos go to the GCrypto Trading Wallet, and withdrawing to your GCash Wallet is free, up to ₱100,000 a month for Fully Verified users (GCash help centre, as listed on 2 October 2026). From Coins.ph or PDAX, sell for pesos and send them to your GCash number by InstaPay.
GoTyme Bank and UnionBank are the banks on the BSP list of licensed virtual asset service providers (BSP Verifier, record updated 21 July 2026).
No. GCash is an e-wallet. Its crypto feature, GCrypto, runs on PDAX, a BSP-licensed VASP (GCash help centre, as listed on 2 October 2026).
Not for the public yet. Binance is the global partner of BlockShoals Technologies in the SEC sandbox, and any public onboarding needs further SEC approval, per the SEC on 11 June 2026.
Yes, gains from crypto are taxable income. The rules and rates are on our crypto tax guide.
The BSP licenses crypto exchanges and wallets as virtual asset service providers under BSP Circular No. 1108, s. 2021; the SEC registers crypto-asset service providers under SEC MC No. 4, s. 2025, in force since 5 July 2025.
No exchange, wallet or bank pays to appear on this page or to change its order.
This page covers whether crypto is legal, who is licensed, and how cash-out works and costs. For a problem with a transaction, go to the provider first, then the BSP; to report an unregistered platform, the SEC at epd@sec.gov.ph; for tax on gains, the BIR or a tax adviser.
