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MANILA — Binance, one of the world’s largest cryptocurrency exchanges, said it plans to support blockchain education in the Philippines pending its Bangko Sentral ng Pilipinas license application.

Binance Asia-Pacific Manager Leon Foong said students who will be accepted into the program will be referred to as “blockchain scholars.”

“There will be an assessment to test the basic level of blockchain knowledge and qualified individuals will be funded to go to a university of their choice,” Foong said.

This is in addition to its existing partnerships with select schools in Metro Manila to offer blockchain and cryptocurrency courses. Foong said that they want to raise awareness and educate young Filipinos so that they can properly use blockchain technology and be protected from cyber crimes.

“User education is the most important and strongest form of user protection,” he said.

Foong added that the Philippines remains a key market for Binance and blockchain in general. This is due to Filipinos’ rapid adoption of digital assets and e-wallets along with the country’s huge population.

“We would like to encourage more entrepreneurs, more business people interested in leveraging blockchain to create new business models,” Foong said.

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