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