Binance awarded In-Principle Approval for a Financial Services Permission from Abu Dhabi Global Market

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Binance further expands its presence in the Middle East, receiving in-principle approval from Abu Dhabi Global Market (ADGM) to operate as a broker-dealer in virtual assets. Read more ➡️

of Abu Dhabi Global Market to operate as a broker-dealer in virtual assets. Applying for the FSP from the ADGM FSRA is part of its plans in establishing itself as a fully-regulated virtual asset service provider.

ADGM, the International Financial Centre in the capital of the United Arab Emirates , introduced the world’s first comprehensive and and has since established itself as a leading global hub and business platform for virtual asset activities for local, regional and international organisations., said: “We are pleased that Binance has been awarded an In-Principle Approval in the ADGM and are excited to support them as they work towards establishing their foothold and presence in Abu Dhabi, the capital of the UAE.

ADGM will continue to actively expand the business offerings and unlock new investments opportunities in the UAE, and enable virtual asset partners like Binance to support the growing financial needs of the investors and businesses across the region.”, said: “Binance has been actively engaging global regulators, such as ADGM, as part of its ongoing commitment to uphold global standards and collectively foster the developments and sustainable growth of the crypto ecosystem.

Upon the successful completion of its ADGM FSRA application, Binance will then be able to offer its services regarding virtual asset offerings to customers across the Middle East and North Africa region, through its subsidiary Binance Limited.

 

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Expanding its presence in the Middle East should benefit its presence in global markets. Conducive to its development.Hoo

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