Cherry De Vega, Bookkeeping and Compliance ReviewerReviewed by Cherry De Vega, Bookkeeping and Compliance Reviewer

Licensed crypto exchanges, compared

Of the 8 BSP-licensed crypto apps, Coins.ph charges the least to cash out ₱10,000 to GCash: ₱5 by InstaPay, against ₱15 at PDAX. Compare what each charges to buy, cash out and start.

Fees and limits as listed on 2 October 2026, each from the provider's own fee schedule, help centre or terms named in the cell.
AppFee to buy or sellCash out to GCash or bankMinimum buySkip it if
Coins.phOwn appOfficial siteConvert: no fee, spread applies. Spot: 0.1% maker / 0.15% taker at Tier 0 Coins.ph fee schedule, as listed on 2 October 2026InstaPay, ₱5 flat, ₱1 to ₱50,000 per cash-out Coins.ph help centre, as listed on 2 October 2026Not on Coins.ph's pagesyou 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 CryptoInside the Maya appOfficial siteNo transaction fee; Maya earns a margin on the price (percentage not published) Maya Crypto terms, as listed on 2 October 2026Sells straight to your Maya Wallet, real time or up to 2 business days Maya Crypto terms, as listed on 2 October 2026₱1 Maya Crypto page, as listed on 2 October 2026you 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
MoneybeesOwn appOfficial siteNo transaction fee; a margin is built into the posted rate Moneybees terms, updated 27 August 2026Pesos to your bank account, or cash at a partner outlet Moneybees site, as listed on 2 October 2026Not on Moneybees's pagesyou 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
PDAXOwn app; also inside GCash as GCryptoOfficial siteNo trading fee row on PDAX's fee page PDAX fee page, as listed on 2 October 2026InstaPay, ₱15, real time, up to ₱50,000; Maya must be a verified account PDAX fee page, as listed on 2 October 2026Not on PDAX's pagesyou 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 TechnologiesNo public app or siteNo provider websiteNo provider websiteNo provider websiteNo provider website
GoTyme Go CryptoInside the GoTyme Bank appOfficial siteShown in the app before each order; no amount published GoTyme account terms, as listed on 2 October 2026To your GoTyme everyday account, converted from US dollars to pesos, in 1 to 2 days GoTyme help centre, as listed on 2 October 2026US$1 fund-in (pesos converted to US dollars) GoTyme help centre, as listed on 2 October 2026you 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
UnionBankInside the UnionBank Online appOfficial siteA 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 2026Sell for pesos inside UnionBank Online UnionBank virtual asset terms, as listed on 2 October 2026Not on UnionBank's pagesyou 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 PHPOwn appOfficial siteNot on WIBS PHP's fee page WIBS PHP site, as listed on 2 October 2026Not on WIBS PHP's pages WIBS PHP site, as listed on 2 October 2026Not on WIBS PHP's pagesyou use an iPhone: the DOPAY app is on Android only, in early access WIBS PHP site, as listed on 2 October 2026

Top picks to buy and cash out

  1. Coins.phLowest published cash-out to GCash or Maya
    Cash out by InstaPay
    ₱5 per transfer, ₱1 to ₱50,000 Coins.ph help centre, as listed on 2 October 2026
    Suits
    People who want their own exchange account and to send or receive crypto
    Watch out
    Each InstaPay cash-out is capped at ₱50,000. Coins.ph help centre, as listed on 2 October 2026

    Fees and cash-out steps · Official site

  2. GCash GCryptoAlready inside GCash; runs on PDAX
    Withdraw to your GCash Wallet
    Free GCash help centre, as listed on 2 October 2026
    Suits
    Fully Verified GCash users aged 18 or older
    Watch out
    Moving sale proceeds to your GCash Wallet is capped at ₱100,000 a month for Fully Verified users. GCash help centre, as listed on 2 October 2026

    Fees and cash-out steps · Official site

  3. Maya CryptoInside Maya; buy from ₱1 with no transaction fee
    Sell to your Maya Wallet
    Real time or up to 2 business days Maya Crypto terms, as listed on 2 October 2026
    Suits
    Upgraded Maya account holders
    Watch out
    Maya earns a margin on the price and does not publish it; Send and Receive were unavailable as of its 19 December 2025 notice. Maya help centre, posted 19 December 2025

    Fees and cash-out steps · Official site

  4. PDAXHighest published single cash-out, by PESONet to a bank
    Cash out by PESONet
    ₱10 per transfer, up to ₱10,000,000, 1 to 3 banking days PDAX fee page, as listed on 2 October 2026
    Suits
    Larger sales paid out to a bank account
    Watch out
    Cash-in from Maya costs 3% plus ₱15; from GrabPay 1.80%. PDAX help centre, as listed on 2 October 2026

    Fees and cash-out steps · Official site

Picked for the cheapest published way to get pesos into GCash, Maya or a bank, one per route (exchange app, inside GCash, inside Maya, large bank transfers), from each app's own fee and help pages as listed on 2 October 2026.

Check any crypto app

Searches the BSP list of licensed VASPs (21 July 2026) and SEC advisories naming crypto platforms since January 2018.

All 8 licensed apps

BSP licensed VASPNon-bank

Coins.ph

Own app

Betur Inc.

Cash out
InstaPay, ₱5 flat, ₱1 to ₱50,000 per cash-out

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.

Fees and how to cash out
BSP licensed VASPNon-bank

Maya Crypto

Inside the Maya app

Maya Philippines, Inc.

Cash out
Sells straight to your Maya Wallet, real time or up to 2 business days

Skip it if you need to move coins to another wallet: Maya said on 19 December 2025 that Send and Receive were unavailable.

Fees and how to cash out
BSP licensed VASPNon-bank

Moneybees

Own app

Moneybees Forex Corp.

Cash out
Pesos to your bank account, or cash at a partner outlet

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.

Fees and how to cash out
BSP licensed VASPNon-bank

PDAX

Own app; also inside GCash as GCrypto

Philippine Digital Asset Exchange (PDAX)

Cash out
InstaPay, ₱15, real time, up to ₱50,000; Maya must be a verified account

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.

Fees and how to cash out
BSP licensed VASPBank

GoTyme Go Crypto

Inside the GoTyme Bank app

GoTyme Bank Corporation

Cash out
To your GoTyme everyday account, converted from US dollars to pesos, in 1 to 2 days

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.

Fees and how to cash out
BSP licensed VASPBank

UnionBank

Inside the UnionBank Online app

Union Bank of the Philippines, Inc.

Cash out
Sell for pesos inside UnionBank Online

Skip it if you want to move crypto in or out: UnionBank’s terms cover buying and selling for pesos only.

Fees and how to cash out
BSP licensed VASPNon-bank

WIBS PHP

Own app

WIBS PHP, Inc.

Cash out
Not on WIBS PHP's pages

Skip it if you use an iPhone: the DOPAY app is on Android only, in early access.

Is it legit? Licence details
BSP: inactiveNon-bank

Direct Agent 5

Direct Agent 5 · also SurgePay

Head office, as listed by the BSP
2nd Floor Expocraft Bldg., 1008 Metropolitan Avenue, San Antonio, Makati City
BSP list of VASPs, as of 15 July 2026

BSP licence and SEC registration

BSP-licensed crypto providers:
8.
of 9 on the BSP list; 1 inactive.
Crypto platforms:
6.
Banks:
2.
Publish a fee schedule:
6.
of the 8.
Platforms named by the SEC:
28.
none on the BSP list.
SEC CASP Rules in force since:
5 July 2025.
SEC MC No. 4, s. 2025.
Named since the SEC CASP Rules:
25.
first advisory dated on or after that day.

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.

Two regulators cover crypto in the Philippines. The BSP licenses virtual asset service providers under Circular 1108: the companies that exchange crypto and pesos, swap one crypto for another, transfer crypto or keep it for you. A VASP that holds customers' crypto needs at least ₱50,000,000 in paid-in capital; one that does not, at least ₱10,000,000. The SEC registers crypto-asset service providers (CASPs) under its CASP Rules (SEC MC No. 4, s. 2025), in force since 5 July 2025.

Crypto used mainly as a means of payment falls under the BSP. Crypto offered or sold as a security, or as a financial product under RA 11765, falls under the SEC. SEC advisory on the effectivity of the CASP Rules, 14 Jul 2025

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

ProviderBSP VASP licence
Coins.phBetur Inc.Yes, non-bank
MayaMaya Philippines, Inc.Yes, non-bank
MoneybeesMoneybees Forex Corp.Yes, non-bank
PDAXPhilippine Digital Asset Exchange (PDAX)Yes, non-bank
TopJuan TechnologiesTopJuan Technologies CorporationYes, non-bank
GoTyme BankGoTyme Bank CorporationYes, bank
UnionBankUnion Bank of the Philippines, Inc.Yes, bank
WIBS PHPWIBS PHP, Inc.Yes, non-bank

The platforms Filipinos search for most are not on the BSP list, and the SEC has put each on record:

PlatformSEC record
BybitNamed in the SEC advisory of 4 August 2025 as not registered or licensed as a crypto-asset service provider. SEC advisory
MEXCNamed in the SEC advisory of 4 August 2025 as not registered or licensed as a crypto-asset service provider. SEC advisory
OKXNamed in the SEC advisory of 4 August 2025 as not registered or licensed as a crypto-asset service provider. SEC advisory
BinanceBinance 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. SEC press release, 11 June 2026

Every platform the SEC has named, with its advisory: all 28 platforms.

What the SEC CASP Rules require

The rules apply to every entity, local or foreign, that offers crypto-asset services to people in the Philippines, and to anyone who markets them. Under the SEC's own summary, a crypto-asset service provider needs:

  • Registered with the SEC as a corporation, with at least ₱100 million paid-up capital in cash or property, not counting crypto-assets
  • A physical office that is staffed during regular business hours
  • A local data center, with set conditions for outsourcing IT offshore
  • Customer crypto-assets kept legally and operationally separate from the provider's own
  • A disclosure document filed with the SEC and published at least 30 days before a crypto-asset is marketed or offered
  • Covered by the Anti-Money Laundering Act, under SEC and AMLC supervision

Imprisonment of one to five years, or a fine of ₱50,000 to ₱10 million, for wilful violations. Sources: SEC press release 2025-63, 11 June 2025, SEC press release 2025-104, 11 August 2025.

Published fees by provider

BSP Circular No. 1108, s. 2021 requires every VASP to tell customers its actual fees and charges, including for withdrawals. 6 of the 8 licensed providers publish them on their own site. The comparison at the top of this page puts the same four questions to each; a blank in the provider's own pages shows as "Not on its fee page" or "Not on its pages".

Cheapest published cash-out to GCash or Maya: 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.

Which app uses which exchange

Crypto inside an e-wallet or bank app is provided by a licensed VASP. This is who runs each one, per the app's own pages:

AppCrypto runs onSell to
GCashGCryptoPDAX GCash help centre, as listed on 2 October 2026the GCrypto Trading Wallet, then your GCash Wallet
MayaMaya CryptoMaya Philippines, Inc. Maya Crypto terms, as listed on 2 October 2026your Maya Wallet
GoTyme BankGo CryptoGoTyme Bank GoTyme crypto page, as listed on 2 October 2026your GoTyme everyday account, in 1 to 2 days
UnionBank OnlineBuy and sell cryptoUnionBank UnionBank virtual asset terms, as listed on 2 October 2026-

How to check a crypto platform

  1. Find the company behind the app. The licence belongs to a company, not a brand. Coins.ph, for example, is licensed through Betur Inc.
  2. Look for it on the BSP list. The BSP Verifier lists every licensed VASP. The cards above carry the same 8 names.
  3. Search the SEC advisories. The SEC names platforms it finds offering crypto services to Filipinos without its approval. Search the box above or the SEC advisories page, and use Check with SEC for the company itself.

The BSP list PDF as of 15 July 2026 also shows Direct Agent 5 (SurgePay) under inactive or not operational. It does not appear in the BSP Verifier's current directory.

Platforms the SEC has named

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

In all, 28 crypto platforms appear by name in SEC advisories. None of them is on the BSP list. The four Filipinos search for most have their own page: Bybit, MEXC, OKX and Binance. The rest, with the SEC's findings for each, are on crypto platforms named by the SEC.

Licensed providers can still show up in SEC warnings: Coins.ph, Maya, GoTyme Bank, UnionBank appear in advisories about other schemes, as the account those schemes used to collect money, never as the party warned against.

If something goes wrong

  • With a licensed VASP: complain to the provider's own consumer assistance desk first, then to the BSP. The BSP can decide purely civil money claims up to ₱10,000,000.RA 11765 sec. 6(f), 8(f)
  • With a platform the SEC named: the SEC lists the risks as total loss of funds and no legal recourse. Report it to epd@sec.gov.ph or eipd-cybercrime@sec.gov.ph.SEC advisory, 4 August 2025
  • If you promote one: SEC advisories warn that promoters, influencers and agents of unregistered platforms may be held criminally liable under SRC sec. 28: a fine of up to ₱5,000,000, up to 21 years in prison, or both.

Rules from the Financial Products and Services Consumer Protection Act (RA 11765) (approved 6 May 2022).

Profit on any of these platforms is taxable income: see crypto tax in the Philippines.

Questions

Which crypto exchanges are licensed in the Philippines?

8 companies are on the BSP's list of licensed virtual asset service providers (VASPs), record updated 21 July 2026: Coins.ph, Maya, Moneybees, PDAX, TopJuan Technologies, WIBS PHP, plus the banks GoTyme Bank and UnionBank.

What is the difference between a VASP and a CASP?

A VASP holds a BSP licence to exchange, transfer or keep crypto. A CASP is a crypto-asset service provider under the SEC CASP Rules, (SEC MC No. 4, s. 2025), which took effect on 5 July 2025 and require SEC registration before offering crypto services to people in the Philippines.

Is Binance licensed in the Philippines?

No. Binance is not on the BSP list of licensed VASPs, and the SEC posted an advisory against it on 28 November 2023. 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.

Are Bybit, OKX and KuCoin licensed in the Philippines?

No. None of them is on the BSP list of licensed VASPs, and the SEC named all three in its 4 August 2025 advisory as platforms with no license, registration or authorization from the SEC to operate in the Philippines.

Is Coins.ph licensed?

Yes. Betur Inc., which does business as Coins.ph, is on the BSP list of licensed VASPs, record updated 21 July 2026.

Where do I complain about a crypto exchange?

For a BSP-licensed VASP, to the provider first and then the BSP (RA 11765 sec. 8(f), in force since 2022). For a platform the SEC has named, report it to the SEC at epd@sec.gov.ph or eipd-cybercrime@sec.gov.ph.

Who licenses these providers

Each provider above holds a BSP Certificate of Authority as a virtual asset service provider under BSP Circular No. 1108, s. 2021. The SEC CASP Rules (SEC MC No. 4, s. 2025) add SEC registration for crypto offered as an investment, 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 who holds a BSP VASP licence, what the SEC CASP Rules require and each provider's published fees. For a dispute over 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.