Binance will set up industry crypto hub in Dubai

The management of the exchange has already signed a memorandum of understanding with the emirate authorities

22.12.2021 - 09:00

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What’s new? The official Twitter account of the Binance cryptocurrency exchange has published news about the signing of a memorandum of understanding with the Dubai World Trade Centre Authority.

#Binance signs agreement with Dubai World Trade Centre Authority to establish an industry hub for global virtual assets.https://t.co/XtR1qfM20w— Binance (@binance) December 21, 2021

“Binance signs agreement with Dubai World Trade Centre Authority to establish an industry hub for global virtual assets.”

What is known about the new hub? The exchange plans to help other projects obtain a license to operate in Dubai. According to the platform's statement, the new industry hub will create an international, innovative financial system and ensure long-term economic growth for projects and participants.

The choice of the emirate by the exchange was a logical step for further development. Earlier, was mentioned about the Dubai World Trade Centre's plans to become a hub for cryptocurrency regulation. The representatives of the center said that it will become a comprehensive zone and regulator for digital assets, products, operators, and exchanges.

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