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Binance receives pre-approval to operate as a Crypto Broker-Dealer in Abu Dhabi

Binance has received another check in the Middle East with the aim of becoming a fully regulated virtual asset service provider in the Middle East.

This provisional approval that Binance has been granted is their foot in the door to becoming a fully regulated crypto service provider in the United Arab Emirates.

By volume, Binance is currently the world’s largest crypto exchange. It has received In-Principle Approval (IPA) for a Financial Services Permission (FSP) from the (the FSRA) of Abu Dhabi Global Market (ADGM).  

In addition to its roadmap to gaining approval in Dubai, Binance has received approval in Bahrain.

Upon the successful completion of its Abu Dhabi Global Market, Financial Services Regulatory Authority application, Binance has established its subsidiary Binance (AD) Limited, which will offer its virtual asset offering services to customers across the Middle East and North Africa (MENA) region.

Photo by Kamil Rogalinski

About the author, Leyla Ozturk

Leyla Ozturk, lifelong learner currently immersed in the digital world and the way businesses can step into this world. Deeply fascinated by blockchain, cryptocurrency and the whole Fintech ecosystem. All 3 areas have proven that there are issues within the system, there are ways to improve the system and this disruption is needed for economic growth and improvement.

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