Binance FZE Acquires Cryptocurrency Service Provider License in Dubai

On April 18, 2024, Binance FZE marked a significant milestone by securing a Virtual Asset Service Provider license in Dubai.

This license allows them to cater to both institutional and retail investors, offering services such as spot and margin trading, and a host of other cryptocurrency-related activities, paving the way for financial innovation and compliance in the digital asset space.

Also serving private investors in Dubai.

Binance announced on April 18, 2024, that its subsidiary, Binance FZE, has secured a Virtual Asset Service Provider (VASP) license from Dubai's Virtual Asset Regulatory Authority (VARA).

Previously, in July 2023, Binance FZE was granted a Minimal Viable Product (MVP) license. This latest achievement enables them to extend their cryptocurrency-related services to individual investors.

While the MVP license permitted the company to offer services primarily to qualified and institutional investors, the new VASP license expands their reach to include retail investors, thus broadening their customer base significantly.

Diverse Cryptocurrency Services Available in Dubai

Users of Binance in Dubai can now engage in various cryptocurrency-related activities, including spot and margin trading, as well as staking.

Additional services such as Simple Earn, cryptocurrency loans, lending & borrowing, ETH staking, BNB Vault, and Launchpool are also available. These offerings aim to enhance users' potential to monetize their digital assets.

Binance's official statement highlighted that obtaining the VASP license from Binance FZE "is a testament to our unwavering pursuit of financial innovation, compliance, and global expansion."

The company expressed its excitement about providing new opportunities to both retail and institutional investors, in compliance with local regulations.

>> Click here for the latest BINANCE-related articles.