8 companies hold a BSP licence to exchange crypto in the Philippines: 6 crypto platforms and 2 banks. Coins.ph lists the lowest InstaPay cash-out fee to GCash or Maya.
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.
| 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 |
Next: pick a provider by cash-out cost and limits in the comparison above, then follow its cash-out steps on its page.
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.
Direct Agent 5 · also SurgePay
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.
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
| Provider | BSP 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 Corporation | Yes, non-bank |
| GoTyme BankGoTyme Bank Corporation | Yes, 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:
| Platform | SEC record |
|---|---|
| Bybit | Named in the SEC advisory of 4 August 2025 as not registered or licensed as a crypto-asset service provider. SEC advisory |
| MEXC | Named in the SEC advisory of 4 August 2025 as not registered or licensed as a crypto-asset service provider. SEC advisory |
| OKX | Named in the SEC advisory of 4 August 2025 as not registered or licensed as a crypto-asset service provider. SEC advisory |
| Binance | 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. SEC press release, 11 June 2026 |
Every platform the SEC has named, with its advisory: all 28 platforms.
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:
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.
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.
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:
| App | Crypto runs on | Sell to |
|---|---|---|
| GCashGCrypto | PDAX GCash help centre, as listed on 2 October 2026 | the GCrypto Trading Wallet, then your GCash Wallet |
| MayaMaya Crypto | Maya Philippines, Inc. Maya Crypto terms, as listed on 2 October 2026 | your Maya Wallet |
| GoTyme BankGo Crypto | GoTyme Bank GoTyme crypto page, as listed on 2 October 2026 | your GoTyme everyday account, in 1 to 2 days |
| UnionBank OnlineBuy and sell crypto | UnionBank UnionBank virtual asset terms, as listed on 2 October 2026 | - |
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.
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.
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.
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.
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.
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.
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.
Yes. Betur Inc., which does business as Coins.ph, is on the BSP list of licensed VASPs, record updated 21 July 2026.
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.
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.
