Binance receives an important license in Dubai

Binance, the giant crypto exchange, has received the coveted blessing of the regulator for the important MVP license in Dubai. A historic milestone that opens the doors for qualified retail investors and institutional companies in the desert paradise to enter the exciting world of cryptocurrencies and virtual assets.

Binance Receives Key MVP License in Dubai

While Binance is struggling with regulatory hurdles in some countries, most notably the US and Europe , the Middle East exchange continues to blaze its trail to success. From Bahrain to Abu Dhabi to Dubai, Binance has already received several important licenses in the region – and in Dubai it has met with enthusiastic approval.

In an official statement , the crypto exchange proudly announced that its Dubai subsidiary, Binance FZE, will now offer its services to both corporate and qualified retail investors. And that’s not all, as Binance holds the exclusive license in Dubai, making it the only exchange to hold this coveted treasure.

#Binance FZE, our Dubai based subsidiary, is the world's first exchange to receive the Operational Minimum Viable Product licence in Dubai.

Eligible users can now access regulated virtual asset services, such as fiat on and off ramp services via Binance FZE.

More here 👇
— Binance (@binance) July 31, 2023

What does this mean for the VIPs of the crypto world in Dubai? You can look forward to crypto and virtual wealth services approved by the authority, which are characterized by “market insurance and investor protection standards”. Safety is a top priority here!

Recent setbacks in Europe

Richard Teng, Binance’s regional market manager, was delighted with the licensing: “We are delighted to have received the MVP license from the Dubai regulator. A milestone that will cause a sensation worldwide. Our top priority is to operate as a fully regulated exchange and seamlessly meet the Financial Action Taskforce’s global compliance standards.”

While Binance is basking in the sun in Dubai, there has recently been a small reversal in other parts of Europe. Last week, the exchange announced its withdrawal from the Netherlands and withdrew its license application in Germany and Austria . The reason? Gain time to prepare perfectly for the upcoming MiCA regulations . After all, quality comes before speed!