Binance expands offering in Dubai

The Binance FZE cryptocurrency exchange obtained the VASP License to expand its offer in Dubai, with which its services will have greater penetration in said market

Cryptocurrency trading platform Binance FZE recently received the Virtual Asset Service Provider (VASP) License from the Dubai Virtual Asset Regulatory Authority (VARA).

With this license, the exchange will be able to expand its service offering in Dubai, where it has operated since 2023 through the initial issuance of the Minimum Viable Product (MVP) License in July 2023, this marks a significant milestone for Binance and the global landscape of virtual assets.

Under this VASP License, Binance FZE is authorized to “expand its product offering to the retail market alongside qualified and institutional investors. Individual clients can now access a wide range of digital asset products and services, including spot trading, margin trading and staking, the widest range of regulated virtual asset services available not only in the UAE, but also throughout the world.”

Market coverage in Dubai now goes beyond “spot trading and fiat services. Instead of simply expanding the selection of tokens, users will be able to rely on a greater variety of exchange services.”

It was learned that Binance FZE will offer personalized services such as Simple Earn, will introduce new options through its lending and borrowing services, including virtual asset loans. On the other hand, management and investment services will allow users to take advantage of possibilities such as ETH Staking, BNB Vault and Launchpool to amplify the profit potential of their digital assets.

Without a doubt, the issuance of the VASP License is a major step forward in opening up UAE users to have access to a regulated platform for the entire spectrum of digital asset products and services.

Alex Chehade, general manager of Binance FZE, stressed that this is a very important achievement and that Dubai is a “visionary city, which recognizes and embraces the financial potential that blockchain technology offers#”.


Source: cripto247

(Reference image source: Kanchanara in Unsplash)

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