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Binance Solidifies Larger MENA Presence with Dubai License

Binance Growth Continues

Binance continues its Middle East expansion after securing a license to operate in Dubai. 

In a report on March 16 by Ben Nartenstein in Bloomberg, it was made clear that the virtual asset license will allow Binance to operate its regional business from Dubai. 

“Binance will be permitted to extend limited exchange products and services to pre-qualified investors and professional financial service providers under an initial regulatory phase,” the report noted. 

The hope is that the move will prove a catalyst not only for Binance’s presence in the MENA region, but in the way that it could set the tone for regulatory responses elsewhere in the world.  

Source

Binance continues its regional expansionary efforts as this news comes just days after receiving approval from the Kingdom of Bahrain. Binance was also busy securing a Memorandum of Understanding with Brazil to develop the cryptocurrency and blockchain ecosystem with the possible acquisition of Sim;paul, a Brazilian securities firm regulated by the Central Bank of Brazil. 

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