Binance obtains license to operate as virtual asset exchange in Dubai

The world’s largest cryptocurrency exchange obtained an Operational Minimum Viable Product license to offer crypto services to institutional and qualified retail investors in Dubai, the company said today.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.

The license allows Binance FZE, the exchange’s Dubai subsidiary, to offer services in the country initially to institutional and qualified retail investors, Binance said in aThe news follows Binance’s earlier efforts to obtain a provisional MVP license in March 2022 and a preparatory MVP license in September 2022.

“We are honored to be the first exchange to be granted an operational Minimum Viable Product License by VARA,” Richard Teng, head of regional markets of Binance, said in the statement. “Our priority is to be able to operate this first fully regulated exchange in, and from Dubai, in a FATF-compliant ecosystem, setting the stage for global scalability with uncompromised user assurance.”

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