Binance Launches in New Zealand amidst Global Expansion

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Binance, the world’s largest cryptocurrency exchange by market capitalization, has launched a branch in New Zealand.

On Thursday, the exchange announced that it had successfully registered as a Financial Services Provider with the New Zealand Ministry of Business, Innovation and Employment.

“New Zealand is an exciting market with a strong history of fintech innovation and our team of Binancians in New Zealand is working hard to bring the freedom of crypto to Kiwis,” said Changpeng Zhao, CEO of Binance.

The development comes more than a week after Binance secured a Minimum Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA) following a provisional license issued in March.

Presence in Oceania

According to Binance, Oceania accounts for 1 million of the current over 320 million crypto users around the world However, New Zealand is not Binance’s first stop in the region.

Binance already operates Binance Australia where it has active base of over 700,000 users and recently launched crypto contracts for difference (CFDs) for wholesale traders.

Binance still has more details on its plan for New Zealand. However, the exchange has registered milestones stamping its presence around the world, from Africa to Europe to the Middle East.

The exchange recently disclosed that it is in talks with the Nigerian Export Processing Zone Authority to support the creation of Africa’s first virtual free trade zone in Nigeria.

In July, Binance secured Virtual Asset Services Provider (VASP) registration from the Bank of Spain for one month after receiving the green light from French regulators.

Additionally, the exchange is seeking a license in Germany and across Europe, Zhao said Bloomberg in an interview.

Beyond Europe, Binance is pursuing the VASP and electronic money transmitter licenses in the Philippines.

The exchange was in the running for licenses after suffering setbacks from hassles with regulators around the world.

Binance, the world’s largest cryptocurrency exchange by market capitalization, has launched a branch in New Zealand.

On Thursday, the exchange announced that it had successfully registered as a Financial Services Provider with the New Zealand Ministry of Business, Innovation and Employment.

“New Zealand is an exciting market with a strong history of fintech innovation and our team of Binancians in New Zealand is working hard to bring the freedom of crypto to Kiwis,” said Changpeng Zhao, CEO of Binance.

The development comes more than a week after Binance secured a Minimum Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA) following a provisional license issued in March.

Presence in Oceania

According to Binance, Oceania accounts for 1 million of the current over 320 million crypto users around the world However, New Zealand is not Binance’s first stop in the region.

Binance already operates Binance Australia where it has active base of over 700,000 users and recently launched crypto contracts for difference (CFDs) for wholesale traders.

Binance still has more details on its plan for New Zealand. However, the exchange has registered milestones stamping its presence around the world, from Africa to Europe to the Middle East.

The exchange recently disclosed that it is in talks with the Nigerian Export Processing Zone Authority to support the creation of Africa’s first virtual free trade zone in Nigeria.

In July, Binance secured Virtual Asset Services Provider (VASP) registration from the Bank of Spain for one month after receiving the green light from French regulators.

Additionally, the exchange is seeking a license in Germany and across Europe, Zhao said Bloomberg in an interview.

Beyond Europe, Binance is pursuing the VASP and electronic money transmitter licenses in the Philippines.

The exchange was in the running for licenses after suffering setbacks from hassles with regulators around the world.

Source

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