Category: Business Mirror

Calling all PAW Patrol fans, families, and proud pet parents! This month, SM Megamall invites everyone to max out their mall experience with a lineup of activities that’s fun for the whole family.

Watch PAW Patrol: The Dino Movie at SM Cinemas

After their ship gets caught in a mysterious storm, the PAW Patrol pups crash land on an uncharted tropical island filled with dinosaurs. They meet Rex, a pup who has been stranded on the island for years and has become an expert in all things dino-related. When the PAW Patrol’s archrival, Mayor Humdinger, begins recklessly mining in hopes of exploiting the island for its natural resources, he inadvertently causes a huge, dormant volcano to erupt. The PAW Patrol pups are thrown into a series of high-stakes, dino-sized rescues bigger than anything they’ve done before, as they must stop Humdinger before everything on the island goes extinct. Witness the mission at SM Cinemas nationwide, starting August 26.

Catch the First Stop of PAW Patrol: To The Rescue

The fun spills outside the theaters and into the Mega Fashion Hall as SM Megamall hosts the first stop of the PAW Patrol: To The Rescue, running from August 22 to September 2, 2026. Kids and families can enjoy the PAW Patrol Meet and Greet* with the pups, pop-up stores with merch, The Lookout Tower for photo ops, and the Adventure Bay Rescue area with free games that are playable by simply downloading the SM Malls Online app.

*Meet and Greet schedule:

August 22 (4:00 PM, 6:00 PM)

August 23, 28, 30 (2:00 PM, 4:00 PM, 6:00 PM)

August 29 (6:00 PM) After wrapping up at SM Megamall, the tour will continue to SM City Novaliches (September 5 to 16) and SM North EDSA (November 2 to 8).

Whether it’s a movie date or an afternoon of free games, there’s always a reason to head to My SM – because when it comes to family bonding, SM Megamall is your most loved supermall. Follow @smmegamall for the latest updates on upcoming pup-filled events.

Cloudy skies and the threat of rain didn’t stop golfers from showing up for the first Poveda 2002 Golf Tournament, held last August 18, 2026, at the Player Course of The Orchard Golf and Country Club in Dasmariñas, Cavite.

Organized by Poveda Batch 2002 in partnership with Sta. Lucia Land Inc., the charity tournament brought together friends, family, alumni, and members of the golf community for a day of friendly competition and fundraising.

The event was held for the benefit of the Asociasión de Alumnas de Poveda, the alumni association of Saint Pedro Poveda College. The tournament was able to surpass the expected goals set by the organizers, and the generated funds will support the association’s community outreach initiatives, charity programs, and other projects.

Additionally, the tournament was able to gather a total of 72 sponsors who generously gave gifts for raffles and giveaways. Among these sponsors are Palawan Pay and CWC as major sponsors, Clubface as the event’s apparel sponsor, and San Miguel as the event’s drink sponsor.

Despite the rainy forecast, the weather cooperated just in time for the opening prayer led by Poveda alumna Marga Puyat, followed by the ceremonial tee-off led by eight-year-old Tyly Bernardino, the tournament’s youngest player.

Michelle Robles-De Castro, representing Sta. Lucia Land Inc. and also an alumna of Poveda Batch 2002, welcomed the players and guests with the tournament’s welcoming remarks. Lara Santico-Vicente then went through the tournament rules before the players headed out to the course.

Behind the event were Poveda Batch 2002 alumnae Trinna Bernardino, Michelle Robles-De Castro, Andrea Mago, Alex Ocampo, Lara Santico-Vicente, Cathy Dizon, Bea Santos, and Berry Stehmeier, who came together to organize the tournament in support of their alma mater and its community.

The tournament welcomed 170 players and guests joining the day’s activities, among which were 12 club champions.

Adding another highlight to the event, the Poveda 2002 Golf Tournament was recognized as a qualifying event for the World Amateur Golfers Championship (WAGC) happening in September 2026. WAGC Director Mark Leviste was present to award Certificates of Qualification to the players.

Unlike any major golf tournament, the Poveda 2002 Golf Tournament was organized without a golf director, yet it was still executed flawlessly, delivering a highly competitive amateur event. This also reflects the Povedan core values: commitment, excellence, and Christ-centeredness.

Overseeing the tournament, there were two rulesmen on the course, namely Mr. Francis Montallana and Mr. Marvin Dumandan. There were also four marshals roaming.

Off the course, the event continued with food, prizes, raffles, and music by DJ Santino Laurel, giving players and guests a chance to unwind and celebrate after their rounds.

Over lunch, both players and attendees delighted in feasts of several served dishes and snacks. Families got to take home lots of goodies and gifts.

The awarding program opened with remarks from Berry Stehmeier and was hosted by Andrea Mago, who led the recognition of the day’s winners. Trinna Bernardino delivered the closing remarks, thanking the players, sponsors, partners, and guests who helped make the tournament possible.

Taking home the Overall Low Gross Champion title was King Stehmeier, who finished with a gross score of 72 and a net of 69. Meanwhile, Poveda alumna Lara Vicente Santico was named Overall Low Net Champion, finishing with a gross score of 75 and a net of 69.

More than a day on the greens, the inaugural Poveda 2002 Golf Tournament brought together sport, friendship and a shared purpose-making the Batch of ’02’s first tournament one that was truly good to be true.

THE Department of Energy (DOE) will continue to unload excess liquefied petroleum gas (LPG) supply and boost diesel inventories.

‘So, we’re starting to unload as well, so that storage costs don’t become excessive,’ said DOE Secretary Sharon Garin.

The country’s fuel inventory as of August 21 stood at 47 days. Of which, gasoline supply will last for 44 days; diesel, 47; kerosene, 121; jet fuel, 75; fuel oil, 54; and LPG, 34.

‘We have to do the math because we don’t want to spend too much. Because while we have it, we have to pay for storage-meaning the rent of the space to store it. Therefore, the longer we keep it, the more expensive the storage becomes,’ said Garin, referring to LPG supply. ‘Most of the time, we try to sell it lower than the going rate just to dispose. But I think it’s almost finished because everyone wants it,’ said Garin.

In the past months, the Philippine National Oil Company (PNOC) released a strategic Liquefied Petroleum Gas (LPG) inventory stored at the South Pacific Inc. (SPI) terminal in Batangas, priced at P68.72 per kilogram (kg).

The strategic LPG inventory is an emergency fuel buffer meant to safeguard domestic supply and protect consumers from global market volatility and supply disruptions.

The energy chief said PNOC has no immediate plans to import another batch of LPG supply soon.

‘We have really enough and they already know where to go. Where did they buy from before? In the Middle East. Now, they’re buying from America. So, luckily, our companies have learned to be resilient and to spread their risk.

So, we have many other countries as sources,’ she said.

Likewise, LPG is likely not to be included in the planned strategic petroleum reserve. ‘We still have to study that because there is a different storage for LPG. When you store diesel, gas, it’s just like you put it in a big tank and then you store it there.

‘Here, there are two components that you have to mix. And then there’s the pressure that you have to control and the temperature. So it’s a more complicated process. That’s why we have not included that yet. And also because we have enough,’ she explained.

The PNOC and the Maharlika Investment Corp., are developing a strategic petroleum reserve and oil storage facility. Maharlika proposed a consortium with PNOC and the private sector to build oil depots to store strategic reserves. Maharlika will act as a capital provider, and PNOC will contribute assets; private operators will manage the facilities.

PNOC has funded and started studies to build at least one oil storage tank by end of next year. The investment is initially pegged at P5 billion per storage tank, capable of storing 500,000 to 1 million barrels of oil.

The Senate and House of Representatives are already tackling the proposed bills related to establishing the Philippine Strategic Petroleum Reserve (PSPR) system.

‘We’re still holding on to the diesel because it is being used for transportation. For LPG, you have a substitute. You can burn wood or charcoal. But for diesel, we’re not so confident yet of the situation of the Strait of Hormuz and 60 percent of diesel is really being utilized for transportation. So, maybe it’s not enough at the moment,’ said Garin.

THE proposed Pax Silica hub in New Clark City will test whether the government can speed up investment processing without weakening legal, environmental and social safeguards, the Anti-Red Tape Authority (ARTA) said.

ARTA said streamlining government procedures should focus on reducing processing times, compliance costs and inter-agency bottlenecks, but should not mean bypassing statutory requirements or limiting public participation.

‘ARTA is actively collaborating with regulatory agencies across the semiconductor ecosystem to systematically optimize processing times, compliance costs, and inter-agency procedures,’ the agency said in a statement on Tuesday.

‘The Pax Silica initiative provides a key platform to advance this agenda through coordinated and predictable governance,’ it added.

The statement comes as the proposed development faces scrutiny over its potential impact on water resources, communities and the country’s exposure to foreign interests.

Malacañang said earlier the project would remain subject to existing laws and environmental requirements, including measures to prevent the displacement of communities without appropriate safeguards.

Pax Silica covers about 1,600 hectares in New Clark City and is envisioned as an advanced manufacturing complex for semiconductor production, including wafer fabrication, chip design and critical minerals processing.

The project is intended to focus on higher-value semiconductor manufacturing and related activities that require significant capital investment.

It has been projected to attract between $40 billion and $70 billion in domestic and foreign investments and create jobs for engineers, researchers, computer science professionals and skilled technical workers, the Bases Conversion and Development Authority (BCDA) said.

Further, under the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 (Republic Act 11032), Arta is tasked with helping improve government service delivery and reduce regulatory burdens.

The pace of approvals, however, remains separate from the actual development timeline.

BCDA President and Chief Executive Officer Joshua Bingcang earlier said site development could begin in three to five years, initially covering about 500 hectares of the proposed 1,620-hectare site. Full development is expected to take place over about 30 years.

Arta said it would continue working with regulators, local governments and private-sector stakeholders to streamline procedures for the project while keeping regulatory requirements in place.

The urgent passage of the Comprehensive School Safety Act is needed to address urgent school safety concerns and strengthen security measures following school shooting incidents in the cities of Tacloban and Zamboanga, according to Senator Bam Aquino.

In a manifestation, Aquino rallied his colleagues to support the swift passage of Senate Bill No. 2390, or the Comprehensive School Safety Act, which seeks to put in place vital safeguards to ensure safer schools.

‘There’s really a lot that must be done and I’m hoping we can get support for the School Safety Act. Let’s put there everything that’s needed, and the good points, and let’s push those,’ said Aquino, chairperson of the Committee on Basic Education, speaking partly in Filipino.

Aquino said he intends to sponsor the measure on Wednesday.

The measure establishes a School Safety Framework that would begin at the national level but require every locality to develop a clear framework involving the schools, concerned government agencies, and the community.

‘Maganda nga na magsimula tayo to address this as a community, mapag-usapan, mabuo itong framework na ito, malaman iyong mga protocol at maging mas klaro sa bawat sektor ng komunidad kung ano po yung role nila,’ he emphasized.

It also aims to strengthen the prevention, reporting, and response to violence, bullying, cyberbullying, and other threats, while ensuring that schools remain safe spaces for learners and school personnel.

Every school would be required to prepare and annually update a School Safety Plan covering emergency protocols, hotlines, safety infrastructure, digital safety, off-campus activities, community engagement, and monitoring.

Aside from the School Safety Act, Aquino cited other measures outside the scope of the Committee on Basic Education that are crucial to protecting students, teachers, and other school personnel from violence and other threats.

Among them are proposals to restrict social media access based on age, impose stiffer penalties for loose firearms, hold parents or guardians accountable when their firearms are misused, as well as amendments to the Anti-Online Sexual Abuse or Exploitation of Children (OSAEC) law.

Aquino said these measures, together with the School Safety Act, should be fast-tracked to address the various factors contributing to threats against learners and school communities.

‘It takes a community to raise a child, it also takes multiple bills and multiple reforms to try to address this issue. Aksiyunan natin, ipasa natin ang mga panukalang ito,’ Aquino said.

Aside from physical security measures, Aquino likewise underscored the importance of community participation following his dialogue with students, parents, and officials of Ateneo de Zamboanga University (AdZU).

‘Having gone through and talked to the Ateneo de Zamboanga community, iyong administration, iyong mga estudyante, iyong mga magulang, nakikita ko po rin yung point ni [Senate Minority] Sen. Alan [Cayetano]. It’s not just about the security measures, talaga nagsisimula talaga ito with a community aspect,’ he said.

Cayetano earlier proposed holding community town hall meetings in schools, where parents, teachers, students, religious leaders, school officials, business groups, and other stakeholders can identify problems unique to each community and work together to find solutions.

Aquino said parents have a particularly important role in preventing incidents of violence by being more attentive to what their children are experiencing and encountering.

He likewise encouraged parents to use parental controls on their children’s devices to prevent them from accessing violent games and other content that are not intended for children.

The Department of Migrant Workers (DMW) has repatriated more than half of the roughly 400 Filipino seafarers who were aboard 27 ships attacked in the Northern Black Sea amid the Ukraine-Russia war.

DMW Secretary Hans J. Cacdac made the announcement after the launch of the Philippines-New Zealand Friendship Week at the DMW main office in Mandaluyong City last Tuesday.

‘Around 260 of them have come home. So more than 50 percent or around 60 percent have returned home,’ he said partly in Filipino in a press briefing.

He gave the update after DMW reported during the weekend the safe condition of the 39 Filipino crew members of two ships, which were hit by drone attacks at the Black Sea.

Since tensions in the Black Sea escalated, Cacdac said they have recorded three Filipino sailors, who died, and another 15, who were injured from the ongoing conflict in the said body of water.

He said the government was able to send home the said sailors via Romania and Turkiye, where they also received aid from the team of DMW and Department of Foreign Affairs (DFA) officials and personnel.

The interventions include welcoming sailors when they disembark from ships, preparing their repatriation, giving them financial assistance, and coordinating with their families in the Philippines.

Compared to the ongoing tensions in the Red Sea, where there are also stranded Filipino sailors, Cacdac said the situation in the Black Sea is less concerning since there are various available exit routes of ships to safely navigate to.

To prevent more Filipinos from being affected by the ongoing conflict in the Black Sea, the DMW chief urged Filipino sailors to exercise their right to refuse to sail in such dangerous waters.

DMW also called on shipowners not to bring Filipino seafarers in the said area, which the DFA and the Department of National Defense has tagged to be under ‘full scale international armed conflict.’

Singapore Prime Minister Lawrence Wong announced a package of childcare benefits to support families as the city-state grapples with a record-low birth rate and rising concerns over the cost and pressures of raising children.

Each Singaporean child will receive almost S$70,000 ($55,150) in direct assistance through age 17, starting with a S$10,000 baby gift, Wong said during his National Day Rally Speech on Sunday. The government will also significantly increase paid childcare leave and aims to cut monthly fees for subsidized full-day childcare to S$150.

‘Today, families everywhere are under growing pressure,’ Wong said during the annual address, which is typically used to set out the government’s key policy priorities. ‘We want to make a fundamental shift in how we support families.’

Family support has become a top priority for Singapore, with its total fertility rate falling to a record low of 0.87 last year. That prompted the government to set up a workgroup to review marriage and parenthood measures, and plans to spend nearly S$7 billion on related initiatives this fiscal year.

Singapore is also on track to become a super-aged society this year, with a fifth of its population aged 65 and above.

Wong said in June that his government would rely less on incentives to encourage Singaporeans to have more children and focus instead on making family life easier, after years of measures including baby bonuses and expanded paternity leave.

Under the new childcare leave policy, every working parent will get eight days with one child up to 12 years old, 10 days with two children and 12 days with three or more children. For a working couple with three primary school children, they would receive 24 days of leave, up from just 4 days.

Wong also said he wouldn’t rule out expanding paid parental leave, which now totals up to seven and a half months, but would leave the current arrangements in place for now to give employers time to adjust to the recently introduced changes.

‘I have decided that the government will cover the cost of all statutory child related leave, up to the reimbursement limit,’ he said. ‘This will reduce, of course, the financial burden on employers.’

Singapore will give preferred access to couples for every child they have or are expecting when applying for their first subsidized public housing, a key avenue for homeownership for most citizens. ‘We want to help growing families secure a home sooner,’ Wong said.

The city state will raise from Monday the income ceiling for public Build-to-Order flats to S$16,000 from the current S$14,000, and for executive condominiums-a form of quasi-public housing-to S$18,000 from S$16,000. The government will also consider additional housing support for those with larger families, Wong said.

The 53-year-old premier has already moved to cushion citizens from external shocks, rolling out nearly S$2 billion of support after the Middle East conflict pushed up energy costs. Meanwhile, Singapore’s economy has been riding the AI boom, which has boosted related manufacturing and trade sectors. It recently raised its 2026 economic growth forecast to 4.5 percent to 5.5 percent.

Wong also said Sunday that the city-state would require stronger safety standards from social media platforms to protect children online. While he offered no specifics, he said the government would consider additional restrictions, including raising the minimum age for access above 13 years old to platforms whose safeguards remain inadequate.

Singapore has been considering stronger measures around social media for some time, following Australia’s world-first ban for children under 16, which took effect in December.

Today, the platforms ‘mostly rely on users to declare their own ages and we know this is not working well,’ Wong said. ‘They will have to put in place robust and reliable checks so that the minimum age is properly set and enforced.’

In addition, Singapore plans to merge several islands south of Jurong Island into a larger island for new industries, including advanced manufacturing, and power infrastructure, Wong said. The government is also studying undersea tunnels to connect Pulau Tekong to the mainland, he said.

THE Philippine Fiber Industry Development Authority (PhilFIDA) launched a digital platform to enhance market linkages and expand opportunities in the fiber sector.

PhilFIDA Executive Director Arnold Atienza led the launch of the e-market linkage platform, dubbed Natural Fiber Link PH, to digitally connect local fiber processors and producers with potential buyers.

The agency said this would help the domestic industry expand its market opportunities, strengthen market linkages, and promote fair and transparent trade in the country’s natural fiber products.

The launch brought together industry stakeholders who explored the developing platform and shared feedback on its accessibility and functionality.

For PhilFIDA, the feedback will contribute to the platform’s continuous improvement as it works toward a more accessible and responsive digital marketplace.

‘As Natural Fiber Link PH continues its development, PhilFIDA remains committed to advancing sustainable, eco-friendly, and inclusive digital solutions that create greater opportunities for Filipino fiber farmers, processors, and industry stakeholders.’

In a separate development, Atienza met with Carmina Jacob, Vice President of the Fashion Coalition.

They discussed potential collaborations that would promote sustainable fiber textiles and the use of locally produced cotton in textile manufacturing.

PhilFIDA added that the discussion also explored opportunities to support local fiber production, encourage the development of sustainable textile products, and bolster the patronage of locally sourced materials within the Philippine fashion industry.

Production bottlenecks

Last April, a unit of the University of Asia and the Pacific (UAandP) said sourcing constraints, weather-related shocks, and plant diseases hinder the domestic abaca industry’s growth. (See: https://businessmirror.com.ph/2026/04/13/typhoons-diseases-hamper-abaca-production-report/)

Despite the industry’s critical role in the global economy and environmental sustainability, UAandP Center for Food and Agribusiness (CFA) research assistant Cy P. Reyes said abaca production had been on a downtrend.

Citing government data, Reyes noted that abaca output steadily declined over a five-year period to 39,089 metric tons (MT) last year, from 58,943 MT in 2021.

Aside from natural calamities and persistent crop diseases, Reyes noted market coordination and sourcing gaps as a main concern.

‘Despite being the world’s leading exporter, the Philippines faces a ‘sourcing paradox,’ where local firms import abaca fiber largely from Ecuador, due to weak coordination in domestic supply chains.’

Thus, Reyes said there is a ‘strong potential’ to reduce the country’s reliance on imports by bolstering connections between local producers and domestic manufacturers.

At 17, Pax Pineda turns his personal connection to Philippine history into a public exploration of one of the country’s most influential propagandists.

Running from September 4 to October 17, 2026, at the 2F Lobby of Ayala Museum’s Diorama Experience Gallery, LOLO MARCELO: THE MAN BEHIND THE HERO (Reflections on the Legacy of Marcelo H. Del Pilar) bridges the gap bridge the gap between history and personal heritage, transforming Del Pilar from a mere historical icon into a relatable figure whose spirit continues to inspire.

Pax Pineda, the great-great-great-grandson of Marcelo H. Del Pilar, collaborates with Ayala Museum and the National Historical Commission of the Philippines to present a collection of artifacts, letters, and artworks that examines not only Del Pilar’s contributions to the Propaganda Movement, but also the lesser-known truths behind his legacy. Pineda frames the exhibit as an opportunity to see Del Pilar from a relatable lens: equally as a hero, a journalist, a lawyer, a husband, a father, and a Filipino who made profound sacrifices for a cause larger than himself.

‘I am very grateful to have this opportunity to tell, show, and share my Lolo Marcelo’s story the same week as what would have been his 176th birth anniversary. Last month at NHCP’s HistoEx, Lolo Marcelo’s journey was also shown and discussed in an exhibit there, and I’m so happy it was well attended. But I also want to share the other side felt by his family, and how their lives were marked by profound sacrifice. He left his family and his homeland in 1888 to escape persecution and continue his fight for justice in Madrid. He not only edited it and wrote for it, but also ended up financing La Solidaridad when funds dried up, leaving him penniless. Yet, his legacy endures. His dedication to the cause of freedom, coupled with his roles as a devoted father and husband, humanizes his storied life.’ Ayala Museum curator, Tenten Mina adds that MH Del Pilar is particularly interesting and relevant as we celebrate the Year of Diplomatic History and Diaspora during history month 2026. Mina adds, ‘he endured physical separation from family and loved ones for the sake of the greater good-a sacrifice many Filipinos still make today.’

Known by his pen name Plaridel, Marcelo H. Del Pilar was one of the leaders of the Propaganda Movement that fought for reform and equal rights for Filipinos during the twilight years of the Spanish Colonial Era. While his written works, Dasalan at Tocsohan and La Solidaridad, are widely remembered by the public as his major contributions to our independence, the personal sacrifices of the propagandist to launch and sustain these efforts are less known.

The exhibit also aims to shine a light on the more intimate dimension of Del Pilar’s life. Born in Bulacan, Del Pilar trained as a lawyer before becoming a journalist, writer, and reform advocate. He left the Philippines in 1888 amid persecution and continued his campaign for reforms in Spain. His commitment came at considerable personal cost, including prolonged separation from his family and financial hardship from personally supporting La Solidaridad. He died of tuberculosis in Barcelona in 1896, far from the country he sought to serve.

‘Ayala Museum is more than happy to collaborate with young individuals who would want to share these important stories of Filipino heritage with their peers. Projects such as this illustrate our deeply held belief at the museum that history and culture carry values relevant to each generation and that it is our job to provide a space for these conversations to happen,’ shares Jorell Legaspi, Senior Director for Arts and Culture at Ayala Foundation.

The artifacts featured in the exhibition are on loan from the National Historical Commission of the Philippines and transported from the Marcelo H. Del Pilar Shrine in Bulakan, Bulacan – a national shrine and museum dedicated to the Filipino propagandist, journalist, and lawyer. Ayala Museum and the NHCP have been long-time collaborators and partners in the promotion of a deeper understanding of the story of the Filipino nation. Aprille Tijam, Associate Director at Ayala Museum, adds, ‘We envision that this pocket exhibition will be the first of many more curatorial projects that seek to explore significant events and figures in Philippine history not featured within the Ayala Museum’s 60 Dioramas of Philippine history.’

About the curator

Pax Pineda is a 17-year-old Filipino high school senior at the ESF South Island School in Hong Kong. He has been deeply interested in History, particularly American History, from an early age. His interest first came when he and his family travelled to the U.S. for a vacation and spent 24 hours in Washington D.C. Over the last few years, he has increasingly become more interested in Philippine History, especially in the life and work of Marcelo H. Del Pilar, who is his direct great, great, great grandfather.

Pax has been nurturing his love for History for more than a decade, whether it be through writing about it in his free time, reading numerous history books, or currently, through a passion project with Ayala Museum – a pop-up exhibit on Marcelo H. Del Pilar. College plans include majoring in History at a university in the US. In his free time, he is an avid footballer, having played for years in the highest division of youth football in Hong Kong. He also enjoys running, watching sports, video games, and spending time with friends and family.

THE Securities and Exchange Commission (SEC) defended its move to accept government-blocked Binance Holdings Inc. as a global crypto asset exchange partner in the agency’s regulatory sandbox.

SEC Chairman Francis E. Lim said admitting Binance in the sandbox does not mean that the business may happen outright.

‘We should not close our minds to innovation. In fact, my principle is we do not approve innovation only because it is new, neither do we reject it because it is unfamiliar. I think we are on the verge of global innovation,’ Lim said.

Binance’s platform as been geoblocked by the National Telecommunications Commission and removed from major app stores under orders from the SEC in 2023

The SEC in 2024 has identified Binance and concluded that the public’s continued access to these websites or apps poses a threat to the security of the funds of investing Filipinos.

In May, however, the SEC approved BlockShoals Technologies Inc. to kickstart the testing of its financial products and services under the agency’s regulatory sandbox.

Its model allows Philippine-based users to access selected products and services offered through its global virtual asset service provider partner.

Upon successful integration with its virtual asset service provider (VASP), BlockShoals will proceed with the implementation of its approved testing plan, including user onboarding through its partner, Binance.

Both Binance and Blackshoals do not hold a VASP license from the central bank.

SEC Commissioner Rogelio V. Quevedo said being included in the sandbox does not cure the penalties that will be imposed on a company that has committed violations against the securities regulations code.

‘Being in the sandbox is not an excuse, nor is it the highway, to be approved already by the SEC. It is just there so that the SEC can properly evaluate,’ Quevedo said. ‘I can also say that to conduct testing, I cannot agree that we will open the system, because abuses might be committed while it is being tested.’

‘The sandbox is not an excuse to get on the road to approval by the SEC. It is not because you are in the sandbox that you will continue to be approved by the SEC. There are still a lot of processes that it will go through,’ he added.

Lim said even in mature markets like Singapore, it takes quite a while-about two years-before one can graduate in the sandbox.

He added that another market innovation is the tokenization of the shares in stock to let in as many people as possible into the trade.

In crypto, tokens are digital asset built on top of an existing blockchain platform. Unlike coins, which operate on their own native blockchain, tokens can represent anything from a stake in a project to a specific utility inside a digital ecosystem

‘There are a lot of shares with high value. So, tokenize it. Unitize it, right? That can generate more market participants. So, let’s keep an open mind to innovation,’ Lim said.