Binance Can Now Offer Crypto Custody In Abu Dhabi: Approved

Binance, the world’s largest cryptocurrency exchange, announced that it has obtained a financial services license from the United Arab Emirates (UAE).

Abu Dhabi International Financial Center (ADGM) 16 November In a statement on its official website, Binance From the Financial Services Regulatory Authority (FSRA) financial services regulatory license (FSP) reported that he received it. Institutional customers under ADGM if Binance complies with licensing requirements. can provide custody services specified.

ADGM Chairman Ahmed Jasim Al Zaabi On the subject, he congratulated Binance for enabling FSPs to offer their products and services in the MENA region. He also suggested that robust and transparent virtual asset regulatory frameworks will pave the way for ADGM’s sustainable innovation from the financial sector. At ADGM to develop solutions for the Al Zaabi Web3 economy, Binance’s their operations and R&D studies to support He said they are looking forward to it.

On the other hand, Binance MENA and European Region President Richard TengObtaining ADGM and FSRA licenses Cooperation between the crypto industry and the public He underlined that it is a very important move that emphasizes its value. Chairman Teng noted that they look forward to Abu Dhabi becoming a leading virtual asset hub and congratulated ADGM for its support of the local blockchain ecosystem.

Binance AD ​​CEO Dominic Longman He also used similar expressions with Richard Teng. Longman stated that they hope that as Binance Abu Dhabi grows and evolves, so will the local blockchain landscape.

Binance has recently received approval in principle from the Abu Dhabi authorities as a crypto brokerage firm.

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