Binance, one of the world’s largest cryptocurrency exchanges, has recently obtained a license to provide full virtual-asset services in Dubai. This marks a significant milestone for the company as it expands its presence in the Middle East and solidifies its position as a leading player in the global cryptocurrency market.
The license, issued by the Dubai World Trade Centre Authority (DWTCA), allows Binance to offer a wide range of virtual-asset services to customers in Dubai and the wider United Arab Emirates (UAE). This includes trading, custody, and tokenization services for a variety of cryptocurrencies and digital assets.
This development is a testament to Dubai’s growing reputation as a hub for blockchain and cryptocurrency innovation. The city has been actively working to create a favorable regulatory environment for digital assets, attracting companies like Binance to set up operations in the region.
Changpeng Zhao, CEO of Binance, expressed his excitement about the new license, stating that it will allow the company to better serve its customers in the Middle East and provide them with access to a wide range of virtual-asset services. He also highlighted Dubai’s forward-thinking approach to blockchain technology and its potential to become a global leader in the space.
In addition to obtaining the license in Dubai, Binance has been making significant strides in expanding its presence in other regions around the world. The company recently announced partnerships with several major financial institutions in Europe and Asia, further solidifying its position as a key player in the cryptocurrency industry.
Overall, Binance’s acquisition of a license to provide full virtual-asset services in Dubai is a positive development for both the company and the broader cryptocurrency ecosystem. It demonstrates the growing acceptance and adoption of digital assets by regulators and institutions around the world, paving the way for further growth and innovation in the industry.