Binance has received a license to operate in Dubai and Bahrain

This will allow the company to strengthen its position in the Middle East

15.03.2022 - 07:35

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What’s new? Binance, the world’s largest cryptocurrency exchange by trading volume, has been licensed to provide cryptocurrency services in Dubai and Bahrain. This announcement was made by Changpeng Zhao, founder of the Binance platform, on Twitter.

Source: Twitter.com

What is known about the new licenses? The permission to operate in Bahrain has been granted by the country’s central bank and will allow Binance to provide crypto services throughout the kingdom. As for the Emirate of Dubai, the platform will become the leading representative of the crypto industry in the World Trade Center’s free economic zone (FEZ).

The licenses obtained will allow Binance to provide the following types of services to its clients in the region: custody, trading, and asset management. As Khalid Humaidan, CEO of the Bahrain Economic Development Board, emphasized, the regulator’s approval has created “a world-class infrastructure to support the fast-growing blockchain and crypto industry.”

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