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Coins.ph (Betur Inc.) and PDAX are the clearest starting points for Philippine residents who want a locally supervised crypto provider. Maya Philippines and Moneybees are also listed active non-bank virtual asset service providers (VASPs), while GoTyme Bank and UnionBank are listed active bank VASPs. The Bangko Sentral ng Pilipinas (BSP) directory is dated 15 July 2026, so confirm the listing, legal entity and available services immediately before opening an account.
Regulation narrows the field, but it does not identify the cheapest exchange, guarantee withdrawals, insure your coins or make an investment profitable. You still need to compare PHP funding and withdrawal methods, spreads and fees, supported assets, liquidity, custody controls, account recovery, customer support and your eligibility under the provider’s verification rules.
Quick answer: which regulated exchanges should Philippine users shortlist?
The BSP’s 15 July 2026 list names nine VASP entries. Six are active non-bank VASPs: Betur Inc. doing business as Coins.ph, Maya Philippines, Moneybees Forex, Philippine Digital Asset Exchange (PDAX), TopJuan Technologies and WIBS PHP. Direct Agent 5, also known as SurgePay, is marked inactive or not operational. GoTyme Bank and UnionBank are listed as active bank VASPs.
| Provider or legal entity | BSP directory status on 15 July 2026 | What the listing establishes | What it does not establish |
|---|---|---|---|
| Betur Inc., doing business as Coins.ph | Active non-bank VASP | Listed by the BSP as a locally supervised VASP | Current fees, spreads, liquidity, asset count, insurance or a particular product feature |
| Philippine Digital Asset Exchange (PDAX) | Active non-bank VASP | Listed by the BSP; PDAX says it received a virtual-currency-exchange licence in September 2018 | That every asset, order type, payment rail or fee is available to every user |
| Maya Philippines | Active non-bank VASP | Listed by the BSP | Exact crypto products, limits, fees or spreads |
| Moneybees Forex | Active non-bank VASP | Listed by the BSP | Exact online or physical cash, asset and withdrawal options |
| GoTyme Bank | Active bank VASP | Listed by the BSP as a bank VASP | Whether a specific crypto service is open to your account type or location |
| UnionBank | Active bank VASP | Listed by the BSP as a bank VASP | Current product scope, fees, asset coverage or eligibility |
| TopJuan Technologies | Active non-bank VASP | Listed by the BSP | Comparable consumer features were not stated in the cited material |
| WIBS PHP | Active non-bank VASP | Listed by the BSP | Comparable consumer features were not stated in the cited material |
| Direct Agent 5, also known as SurgePay | Inactive or not operational | The directory records a status warning | Do not assume onboarding or transactions are available |
For a general consumer comparison, start with Coins.ph and PDAX because both are clearly identified in the current directory and have publicly described local-regulatory credentials. Treat Maya and Moneybees as additional active options, and investigate bank VASPs if using a bank relationship is important to you. The directory’s active label is a regulatory-status signal, not a ranking.
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What “regulated” means in the Philippines
The BSP VASP listing is the first authorization check
The BSP supervises covered virtual-asset activities through its VASP framework. Its directory is the most useful first check when you want a provider handling Philippine-peso conversion or other services within the BSP’s remit. Look for the exact corporate name, not only an app name or marketing brand, and check the directory date. A provider can change ownership, scope, operating status or product availability after a directory is published.
The 15 July 2026 directory contains nine named entries. Six are identified as active non-bank VASPs, two as active bank VASPs, and Direct Agent 5 (SurgePay) as inactive or not operational. Because the list is time-sensitive, save the date of the page you checked and repeat the check immediately before depositing funds.
SEC CASP Rules add obligations for covered crypto-asset activities
The Securities and Exchange Commission’s Crypto-Asset Service Provider (CASP) Rules treat crypto-assets as financial products within SEC supervision where applicable. They cover offerings, trading venues, intermediation and other crypto-asset services. Covered firms must obtain the required licensing or authorization, provide disclosures, protect consumer assets, maintain complaint-redress processes and comply with anti-money-laundering, counter-terrorist-financing and counter-proliferation-financing requirements under SEC supervision.
The rules also require public marketing to be plain, clear and concise, accurately describe the product or service and sufficiently disclose associated risks without misleading presentation. A provider’s compliance with these requirements is useful protection against deceptive promotion, but it does not remove market, technology, counterparty or operational risk.
A licence is not an investment-safety guarantee
BSP or SEC oversight does not promise that a token will rise, that a platform cannot be hacked, that every withdrawal will be immediate, or that balances are insured like a bank deposit. Regulation also does not reveal a provider’s fee level, spread, order-book depth, execution quality or coin count. Those are separate product questions that must be answered from current provider documentation.
Provider profiles
Coins.ph (Betur Inc.)
Betur Inc., doing business as Coins.ph, appears in the BSP directory as an active non-bank VASP. The legal-entity name matters: verify that the account, payment instructions and privacy or user agreement identify Betur Inc., rather than an unrelated company using a similar name.
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Before funding, check which PHP deposit and withdrawal methods are available to your verified account, the minimum and maximum transaction limits, the settlement time and the total cost after network or payment charges. Confirm whether the service you want is a simple buy or sell flow, an order-book market, a wallet service or another VASP activity. The cited regulatory material does not publish a comparable Coins.ph fee schedule, spread, liquidity measure or supported-asset count.
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PDAX
Philippine Digital Asset Exchange (PDAX) is listed as an active non-bank VASP. PDAX’s support information says it complies with applicable laws and regulations set by the BSP and other designated Philippine authorities. It also states that the BSP granted PDAX a licence to operate as a virtual-currency exchange in September 2018, allowing PHP exchange with cryptocurrencies, tokens and other virtual currencies.
That statement establishes a clear local authorization history and PHP-exchange scope, but it does not mean every asset or payment method is available to every customer. Confirm the current market list, order types, PHP rails, deposit and withdrawal limits, spread, trading fee, network fee and processing time in the account interface or current terms.
Maya Philippines
Maya Philippines is listed by the BSP as an active non-bank VASP. Its presence on the directory makes it a candidate for users who already maintain a relationship with the Maya financial ecosystem. Do not infer a specific crypto feature from the listing alone: verify whether the product is a buy-and-sell service, a wallet, a trading venue or another permitted activity, and check the current availability for your identity, residency and account tier.
Moneybees Forex
Moneybees Forex is listed as an active non-bank VASP. The directory entry supports treating it as a locally supervised option, but the cited material does not provide a comparable table of online channels, physical locations, assets, fees, spreads, liquidity or withdrawal controls. Ask for a written, current quotation that separates the exchange rate from any explicit service or network charge.
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GoTyme Bank and UnionBank
GoTyme Bank and UnionBank are identified in the BSP directory as active bank VASPs. A bank-VASP relationship may be relevant if you value an existing bank login, in-app payment movement or a familiar complaints channel, but the label alone does not establish that all customers can trade crypto directly. Check the bank’s current product page, account prerequisites, custody arrangement and transaction limits, and confirm whether the crypto service is operated by the bank or by a separately named provider.
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- Backup without a seed phrase: Your wallet is copied to 2 backup cards with end-to-end encryption, so there are no words on paper to lose or leak. Keep them in separate places; if one card is lost, the others restore full access. Optional seed phrase for advanced users.
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TopJuan Technologies and WIBS PHP
TopJuan Technologies and WIBS PHP are also listed as active non-bank VASPs. They belong in a status check when you are considering a provider outside the two most familiar names. The cited authoritative material does not provide decision-ready comparative figures for their fees, spreads, liquidity, assets, custody or support, so obtain those details directly and verify the legal entity before sending PHP or virtual assets.
Direct Agent 5 (SurgePay)
The BSP directory marks Direct Agent 5, also known as SurgePay, inactive or not operational. Do not treat an app, social account or old advertisement as proof that onboarding has resumed. If a provider’s status conflicts with the current BSP directory, pause and seek written clarification from the regulator or the provider through a verified channel.
Comparison framework for a real decision
No authoritative source cited here publishes a like-for-like fee, spread, liquidity, user-count or performance table. The following matrix separates what is established from what you must verify.
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|---|---|---|
| Regulator and status date | BSP directory dated 15 July 2026; entries are classified as active non-bank, active bank or inactive/not operational | Whether the same legal entity remains listed and active today |
| Legal entity | Betur Inc. is the entity behind Coins.ph; PDAX, Maya Philippines, Moneybees Forex, TopJuan Technologies, WIBS PHP, GoTyme Bank and UnionBank are named entries | Exact contracting entity, registered address, terms and who holds customer assets |
| PHP on-ramp and off-ramp | PDAX states that its licence permits PHP exchange with cryptocurrencies, tokens and other virtual currencies | Supported banks or e-wallets, limits, settlement times, reversals and total charges for your account |
| Spot trading and order types | Not stated comparatively | Whether the service offers instant conversion, an order book, limit orders, market orders or only a quoted buy/sell flow |
| Supported assets | Not stated comparatively | Exact symbols, trading pairs, network versions and delisting policy |
| Fees and spreads | Not stated in a comparable authoritative table | Trading fee, quoted spread, PHP payment fee, withdrawal fee, network fee, minimums and any tier or promotion |
| Liquidity and execution | Not stated | Displayed depth, quoted-size limits, slippage warnings and what happens during volatile markets |
| Custody and withdrawals | Regulatory obligations include consumer-asset protection where the SEC CASP Rules apply | Hot or cold custody, segregation, withdrawal address controls, travel-rule information, daily limits and manual review |
| Security and recovery | Regulatory status does not specify an individual provider’s controls | Passkeys or two-factor authentication, device alerts, withdrawal allowlists, cooling-off periods, recovery proof and support escalation |
| Support and complaints | SEC CASP Rules require complaint-redress processes for covered services | Support hours, response targets, formal complaint route, ticket number and escalation to the regulator |
| Availability | Status varies by provider and the directory date | Residency, identity-document, age, source-of-funds and account-tier requirements |
How to choose without mistaking regulation for a ranking
1. Confirm the entity and current status
Open the BSP’s current VASP directory from the regulator’s official website. Search the legal name, trading name and any name shown in the app. Confirm that the entry is active, note the publication date and compare the company’s legal name with the name on the deposit account. Do not rely on a badge, search advertisement or screenshot.
2. Map your PHP route before comparing coins
Write down how PHP will enter and leave the service. For each method, ask whether it is a bank transfer, e-wallet movement, card payment, over-the-counter transaction or another rail; how long it normally takes; whether deposits can be reversed; and what happens when the name on the funding account differs from the verified customer. A low headline trading fee can be outweighed by payment, conversion or withdrawal charges.
3. Calculate the complete transaction cost
Request a live or written example for the amount you plan to trade. Separate the displayed exchange rate from the spread, platform fee, payment fee, network fee and any minimum. Check whether a promotional rate is one-time, region-specific or tied to a particular account tier. The cited sources provide no comparable figures, so a provider must supply the numbers for your transaction.
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4. Check assets and liquidity for your actual use
Do not choose on the size of a marketing list. Confirm the exact token, network and trading pair, then ask how much can be bought or sold at your intended size. Compare the quoted price with the order-book price where both are shown. Verify whether deposits and withdrawals for that network are currently enabled; a token can be listed while transfers are paused.
5. Examine custody and withdrawal controls
Read who legally holds the virtual asset, whether customer assets are segregated, how insolvency claims work, and whether the provider can suspend withdrawals for compliance or security review. Look for address allowlisting, a delay after changing security settings, multi-person approval for large withdrawals and clear recovery procedures. Never assume a regulated VASP provides private-key control or deposit insurance.
6. Test support and complaints before a large transfer
Use the official support channel to ask one specific question about a limit, fee or failed transfer. Save the answer, ticket number and terms version. Check whether the provider explains a formal complaint process and how unresolved complaints can be escalated. This small test is safer than discovering during a withdrawal that support is unavailable.
Account-opening and first-trade checklist
- Start at the official provider domain or app store listing. Avoid links sent by unsolicited messages. Confirm the publisher and the legal entity in the terms.
- Complete identity verification honestly. Use your own name, current address and requested source-of-funds information. Do not open an account for another person or bypass regional restrictions with false details.
- Enable strong account security before funding. Use a unique password, an authenticator or passkey where offered, device alerts and a recovery method stored offline. Treat one-time codes as confidential.
- Read the funding instructions in the authenticated account. Match the beneficiary name and reference exactly. Send a small test amount first and retain the receipt.
- Review the final quote before confirming a purchase. Check the asset, network, PHP amount, rate, spread, explicit fee, expiration time and resulting quantity.
- Verify the withdrawal address and network. A correct address on the wrong network can permanently lose funds. Use a small test withdrawal when practical.
- Export records. Keep confirmations, transaction IDs, fee details, account statements and support tickets so you can reconcile balances and resolve disputes.
Security practices that matter after onboarding
- Use a dedicated email address and password manager for financial accounts.
- Prefer phishing-resistant authentication or an authenticator application over SMS when the provider supports it.
- Turn on login, new-device, password-change and withdrawal notifications.
- Set a withdrawal allowlist or delay if available, and review it after every security-setting change.
- Never share a recovery phrase, private key, password or one-time code with support personnel. Legitimate support should not ask for them.
- Bookmark the verified site instead of following social-media links, and inspect the domain before signing in.
- Keep only the amount needed for active trading on an exchange; understand the risks and responsibilities of any separate wallet you use.
- Recheck the provider’s status and product terms when you return after a long break.
Common failure modes and what to do
A deposit is pending
Check the transaction reference, beneficiary details, stated processing window and whether the payment rail is under maintenance. Do not send a second payment until support confirms the first one. Open a ticket from inside the authenticated account and retain the bank or wallet receipt.
A withdrawal is delayed or rejected
Confirm that identity verification is complete, the destination address and network match, and no security-setting change has triggered a cooling-off period. Ask support for the precise reason, required documents and expected review time. Do not pay an unsolicited “release fee” to a person claiming to be an agent.
The quoted price differs from the expected price
Compare the quote timestamp, spread, market movement, order size and any separate fee. For an order-book trade, review the execution report and partial fills. If the difference is unexplained, preserve screenshots and request a transaction-level explanation.
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You encounter a provider that is not on the current list
Pause all deposits. Verify the legal entity in the BSP directory and check whether a different licensed company is actually the contracting party. A foreign platform’s global registration or popularity is not proof of Philippine authorization.
You suspect fraud or account takeover
Use the provider’s verified emergency channel, change credentials from a clean device, revoke unknown sessions and contact your bank or payment provider. Preserve chat logs, transaction IDs, wallet addresses and timestamps. Report the incident through the provider’s formal complaint route and the appropriate Philippine authorities.
Can Philippine residents legally buy crypto with PHP?
A BSP-listed VASP is the relevant starting point for PHP-to-virtual-asset services under local supervision. PDAX specifically states that its BSP licence permits PHP exchange with cryptocurrencies, tokens and other virtual currencies. Legality still depends on the product, provider, transaction and applicable Philippine rules, so use a currently listed entity and complete required verification.
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1Fix the driver behind crashes, sound loss and screen glitches2Clear out junk files and repair common Windows errors3Scan for outdated or missing drivers - takes under a minuteDo not describe an overseas platform as Philippine-regulated merely because it serves Philippine users. The SEC’s 28 November 2023 Binance advisory said Binance was not registered as a corporation in the Philippines and operated without the necessary licence or authority for covered securities-related activities at that time. That advisory illustrates why users must verify current Philippine registration rather than infer it from global availability. Status can change, so check the latest regulator information before acting.
Questions to ask a provider before sending meaningful funds
- What is the exact legal entity contracting with me, and is it the entity named in the current BSP directory?
- Which PHP deposit and withdrawal methods are available to my verified account, and what are the limits and settlement times?
- What is the all-in cost for my intended trade, including spread, platform, payment and network charges?
- Which asset, network and trading pair will I receive, and are deposits and withdrawals currently enabled?
- Who holds custody, are customer assets segregated, and what withdrawal approvals or delays apply?
- What security features protect a new device, changed password or changed withdrawal address?
- How do I file a formal complaint, and what information is required for escalation?
- Can the service be used by my residency, age, identity-document and source-of-funds profile?
Bottom line
For most Philippine readers, begin with a current-status check on Coins.ph (Betur Inc.) and PDAX, then consider Maya Philippines, Moneybees, GoTyme Bank or UnionBank according to the PHP rails, custody model and support you actually need. TopJuan Technologies and WIBS PHP are also active entries in the 15 July 2026 BSP directory. Avoid relying on Direct Agent 5 (SurgePay), which that directory marks inactive or not operational. The safest practical choice is the currently authorized provider whose legal identity, costs, liquidity, withdrawal controls and complaint process you can verify for your own account—not simply the provider with the most familiar name.
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