Binance has issued a license in Dubai

The subsidiary of the crypto exchange Binance — FZE was able to issue a basic operating license allowing it to provide services in the cryptocurrency industry. They will be provided to institutional and experienced investors in Dubai.

Details about obtaining a license

Last spring, the company was able to issue a temporary license. In the fall, she has already issued a preliminary one. Licenses were issued by the local regulator VARA. The press release says that the branch was the first to receive such a status.

The organization will provide broker-dealer services. It will also continue the traditional trading of digital assets. The license also allows the platform to convert cryptocurrencies to fiat and back. At the same time, FATF requirements will be met.

Users were allowed to access authorized type of services. At the same time, they are provided with protection that meets the requirements of the market for guarantees and its standards, which were developed under special conditions corresponding to the cryptocurrency area. 

Richard Teng, who heads the regional markets, said that the priority for the platform is the management of a crypto exchange with the possibility of expansion in the global market.

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